Issue - meetings

That having considered the Revenue Budget Monitoring 2021/22 (Month 8) report, the Committee confirms that there are no specific matters to be raised with Cabinet.

The Strategic Finance Manager presented a report on the revenue budget monitoring position for the Council Fund and Housing Revenue Account (HRA) at month 8, prior to consideration by Cabinet.

On the Council Fund, the projected year-end position - without new actions to reduce cost pressures and improve the yield on efficiencies - was an operating surplus of £0.716m (excluding the impact of the pay award to be met from reserves) which reflected a favourable movement of £0.061m from month 7.  This would leave a year-end contingency reserve balance of £6.586m.  The significant movements from month 7 were as set out in the report.  An update was given on various risks including outcomes awaited on the NJC (Green Book) pay awards to be met from the Contingency Reserve, the continuation of Social Care grant funding into 2022/23 and increased demand for Out of County Placements.  An update was also given on eligibility changes to the Local Government Hardship Fund affecting claims until the end of the financial year when it was due to end.

On the HRA, a projected overspend of £0.548m would leave a closing un-earmarked balance of £3.924m, which was well above the recommended guidelines on spend.

In response to a question by Councillor Richard Jones, clarification was given on the transfer of centralised property costs across all portfolios into the Central & Corporate Finance budget.

In thanking officers, Councillor Paul Johnson said that the level of detail within the report demonstrated good financial management.

The recommendation was moved and seconded by Councillors Paul Shotton and Richard Lloyd.

RESOLVED:

That having considered the Revenue Budget Monitoring 2021/22 (Month 8) report, the Committee confirms that there are no specific matters to be raised with Cabinet.