Decision details
Revenue Budget Monitoring - Quarter 1
Decision Maker: Cabinet
Decision status: Recommendations Approved
Is Key decision?: No
Is subject to call in?: Yes
Purpose:
To provide an up to date forecast of the
revenue budget outturn as part of the Council’s continuous
financial management process.
Decisions:
The Cabinet Member with the Resources Portfolio introduced the report of the Group Director of Operations (previously circulated) providing an early forecast of the 2021/22 revenue budget outturn as part of the Council’s continuous financial management process and informing Cabinet of the budget rebasing exercise carried out following the 2020/21 outturn results.
The submitted report stated that it was the first revenue budget management report to Cabinet for 2021/22 and that the latest projections showed an overall improvement of £3.636M, which was due to £2.317M of additional balances following the 2020/21 outturn; £0.993M of resources returned to reserves; £0.22M of projected departmental underspend in 2021/22; and the use of £0.304M of COVID-19 reserve.
It was reported that there still remained a significant amount of uncertainty regarding the recovery from COVID-19 which had the potential to impact on the budget position during the remainder of the 2021/22 financial year.
RESOLVED - (a) That the forecast revenue outturn for 2020/21, as detailed in the submitted report, be noted.
(b) That further regular reports be made to monitor progress and take prompt action if necessary.
REASONS - (a) To continue effective management of resources.
(b) To continue to deliver services to agreed levels.
Report author: Gail Banyard
Publication date: 12/07/2021
Date of decision: 06/07/2021
Decided at meeting: 06/07/2021 - Cabinet
Effective from: 19/07/2021
Accompanying Documents: