Decision details

Revenue Budget Monitoring - Quarter 2

Decision Maker: Cabinet

Decision status: Recommendations Approved

Is Key decision?: No

Is subject to call in?: Yes


To provide an up to date forecast of the revenue budget outturn as part of the Council’s continuous financial management process.


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.


The submitted report stated that it was the second revenue budget management report to Cabinet for 2021/22 and that the projected revenue reserve at the end of 2021/22 was £29.536M, an improvement of £4.610M on the initial 2021/25 MTFP position.  The improvement in reserves included £2.317M of additional balances following the 2020/21 outturn; £0.993M of resources returned to reserves, following the rebasing exercise; £0.185M of projected departmental overspend in 2021/22; a £0.570M increase in corporate resources; and a net £0.915 required from the COVID-19 reserve.


It was reported that of the £29.536M projected reserves, there was a risk reserve balance of £5.350M and a commitment to use £15.838M to support years two to four of the current MTFP.


RESOLVED - (a)  That the forecast revenue outturn for 2021/22, as detailed in the submitted report, be noted.


(b)  That further regular reports be made to monitor progress and take prompt action if necessary.


(c)  That the carry forwards as detailed in the submitted report, be agreed.


REASONS - (a)  To continue effective management of resources.


(b)  To continue to deliver services to agreed levels.


Report author: Gail Banyard

Publication date: 12/11/2021

Date of decision: 09/11/2021

Decided at meeting: 09/11/2021 - Cabinet

Effective from: 20/11/2021

Accompanying Documents: