Issue - meetings

That having considered the Revenue Budget Monitoring 2021/22 (Month 7) report, the Committee confirms that there are no specific matters to be raised with Cabinet.

The Corporate Finance Manager presented a report on the revenue budget monitoring position for the Council Fund and Housing Revenue Account (HRA) at month 7, 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 £0.655m (excluding the impact of the pay award to be met from reserves) which reflected a favourable movement of £0.428m from month 6.  This would leave a year-end contingency reserve balance of £6.543m.  The main areas of movement were set out in the report including Housing & Assets where there was a recommendation for Cabinet to approve a presentational budget virement for centralised utility costs to Central & Corporate Finance.  The report also included an update on the current position with the pay award, emergency funding claims and unearmarked reserves.

On the HRA, a projected overspend of £0.539m would leave a closing un-earmarked balance of £3.933m, which was well above the recommended guidelines on spend.

In response to concerns raised by Councillor Patrick Heesom on void properties, the Chief Executive spoke about the contributing factors and economic impacts on voids and reported that increasing the number of contractors to turnaround properties was helping to improve overall performance.

In highlighting the work undertaken on budget monitoring and Council Tax collection rates, Councillor Paul Johnson thanked the Corporate Finance Manager, Revenues Manager and their respective teams.

The recommendation was moved and seconded by Councillors Patrick Heesom and Haydn Bateman.

RESOLVED:

That having considered the Revenue Budget Monitoring 2021/22 (Month 7) report, the Committee confirms that there are no specific matters to be raised with Cabinet.