Issue - meetings

Revenue Budget Monitoring 2021/22 (Month 5)

Meeting: 19/10/2021 - Cabinet (Item 51)

51 Revenue Budget Monitoring 2021/22 (Month 5) pdf icon PDF 169 KB

Additional documents:


As detailed in the recommendations.


Councillor Johnson introduced the report which provided the latest detailed revenue budget monitoring position in 2021/22 for the Council Fund and the Housing Revenue Account for the financial year, and presented the position, based on actual income and expenditure, as at Month 5.


The report projected how the budget would stand at the close of the financial year, without new actions to reduce cost pressures and/or improve the financial return on efficiency planning and cost control, which was:


Council Fund

  • An operating surplus of (£0.182m) (excluding the impact of the pay award which would be met from reserves), which was a favourable movement of £0.921 from the deficit figure of £0.739m reported at Month 4
  • A projected contingency reserve balance as at 31st March 2022 of £5.875m


Housing Revenue Account

  • Net in-year revenue expenditure forecast to be £0.633m higher than budget
  • A projected closing balance as at 31st March 2022 of £3.839m


The Corporate Finance Manager explained that the report also detailed the position by portfolio; significant variances that month; achievement of planned in-year efficiencies; emergency funding; unearmarked reserves and earmarked reserves.


On emergency funding, he explained that the Hardship Fund was initially allocated £206.6m to support local government for the first six months of 2021-22 in the Welsh Government Final Budget 2021-22.  In addition £23.3m was allocated to support free school meals during the school holidays.  A further £97.5m had subsequently been allocated until the end of the financial year based on spend patterns to date, any changes to policy approaches and the current alert level.


The Principles and Guidance for the Hardship Fund had been revised from 1st October with changes impacting on eligibility for various service areas including schools costs, additional waste tonnages (reduced by 50%) and vehicle costs due to social distancing being removed.  Costs for additional cover where staff were off sick due to COVID-19 or self-isolating were eligible until October, pending further review.  The potential significant impacts of that would be reflected in future reports although where able mitigating actions would be put in place.




(a)       That the report and estimated financial impact on the 2021/22 budget be noted;


(b)       That the change of use for a Planning, Environment and Economy service balance be approved; and


(c)        That the release of £0.585m of unused balances and reserves back to the general reserve be approved.