Issue - meetings

To receive a report presenting details of the Council’s projected financial performance for 2021/2022.

Executive Councillor: J A Gray.

The Cabinet has

(a)  considered and commented on the financial performance to the end of December 2021 (as detailed in Appendix 1 and summarised in paragraph 3.2 of the report now submitted); and

(b)  considered and approved the proposed budget changes to the Capital Budget to accommodate reclassification of budget and in year activity not included within the Medium Term Financial Strategy (as outlined in paragraph 3.3 of the report now submitted).

A report by the Chief Finance Officer was submitted (a copy of which is appended in the Minute Book) presenting details of the Council’s financial performance at the end of December 2021.

The Cabinet’s attention was drawn to the highlights within the report, specifically the forecast revenue outturn underspend of £1.607m and capital outturn underspend of £13.694m. Reference was also made to the Commercial Investment Strategy and the benefits this was achieving for the Council.

Having welcomed the report and in noting the views of the Overview and Scrutiny Panel (Performance and Growth), it was

RESOLVED

  that the Cabinet

a)  note the Council’s financial performance to the end of December 2021 (as detailed in Appendix 1 and summarised in paragraph 3.2 of the report now submitted); and

b)  has considered and approved the proposed budget changes to the Capital Budget to accommodate reclassification of budget and in year activity not included within the Medium Term Financial Strategy (as outlined in paragraph 3.3 of the report now submitted).

The Financial Performance Report 2021/22 Quarter 3 is to be presented to the Panel. Report to follow.

By means of a report by the Chief Finance Officer (a copy of which is appended in the Minute Book) the Finance Performance Report 2021/22, Quarter 3 was presented to the Panel.

Following a question from Councillor Wakeford on high and unbudgeted costs for temporary staffing within the Development Management Team, the Panel were assured that permanent staffing solutions had been put in place and this budget should be back on track in future reports. 

Having welcomed the report, it was therefore

RESOLVED

that the Cabinet be encouraged to endorse the recommendations contained within the report.