Issue - meetings
Revenue Budget Monitoring 2021/22 (Month 7)
Meeting: 14/12/2021 - Cabinet (Item 85)
- Enc. 1 for Revenue Budget Monitoring 2021/22 (Month 7), item 85 PDF 201 KB
- Enc. 2 for Revenue Budget Monitoring 2021/22 (Month 7), item 85 PDF 145 KB
- Enc. 3 for Revenue Budget Monitoring 2021/22 (Month 7), item 85 PDF 24 KB
- Enc. 4 for Revenue Budget Monitoring 2021/22 (Month 7), item 85 PDF 218 KB
- Enc. 5 for Revenue Budget Monitoring 2021/22 (Month 7), item 85 PDF 94 KB
- Webcast for Revenue Budget Monitoring 2021/22 (Month 7)
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 Housing Revenue Account for the financial year and presented the position, based on actual income and expenditure, as at Month 7.
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 was:
- An operating surplus of (£0.655m) (excluding the impact of the NJC pay award which would be met by reserves) which was a favourable movement of (£0.428m) from the surplus figure of (£0.227m) reported at Month 6
- A projected contingency reserve balance as at 31st March 2022 of £6.543m
Housing Revenue Account
· Net in-year revenue expenditure forecast to be £0.539m higher than budget
· A projected closing balance as at 31st March 2022 of £3.933m
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.
During 2021/22 to date, additional cost claims under the Hardship Fund for April to October had totalled £6.192m and Quarter 1 and 2 Income Loss claims were £1.096m, which included claims for Aura, Newydd and Cambrian Aquatics.
(a) That the estimated financial impact on the 2021/22 budget be noted; and
(b) That a budget virement of £2.731 for Centralised Utility Costs from the Housing and Assets Portfolio to Central and Corporate Finance be approved.