Issue - meetings

(a)       That having considered the Revenue Budget Monitoring 2021/22 (final outturn) report, the Committee confirms that there are no specific matters to be raised with Cabinet; and

(b)       That having considered the Capital Programme Monitoring 2021/22 (final outturn) report, the Committee confirms that there are no specific matters to be raised with Cabinet.

The Strategic Finance Managers (Corporate Finance) presented reports on the 2021/22 final outturn for the revenue budget monitoring for the Council Fund and Housing Revenue Account (HRA) and the Capital Programme, prior to consideration by Cabinet.

Revenue Budget Monitoring

On the Council Fund, the projected year-end position was an operating surplus of £5.711m reflecting a favourable movement of £1.107m from month 10 and leaving a year-end contingency reserve balance of £7.098m.  The variances from month 10 were shown in the report including details of significant movements.  The report highlighted the significant impact of the Welsh Government (WG) Hardship Fund and income loss funding streams on the overall outturn position in addition to one-off WG grants into eligible service areas.  An overview of in-year risks included positive movement on the collection of Council Tax and the impact of WG additional funding for Social Care and Health.  An improved position was also reported on planned in-year efficiencies achieved in 2021/22 and emergency reserves set aside following an increase in the local government settlement for 2021/22.  Additional information in the report clarified the changing position on operating surplus and contingency reserves over the past five years.

On the HRA, a projected overspend of £1.404m would leave a closing un-earmarked balance of £3.616m, which was well above the recommended guidelines on spend.

As requested by the Chairman, officers agreed to provide a summary of the position at Month 10 for comparison purposes.

Capital Programme

The revised programme for 2021/22 was £71.442m taking into account all carry forward sums and savings transferred back to the programme.  Changes during the last quarter were mainly due to the introduction of grant funding streams and budget re-profiling.  Actual expenditure for the year totalled £67.907m which was 95.05% of the budget, leaving a £3.535m underspend recommended to be carried forward for the completion of schemes in 2022/23.  Additional allocations identified in the final quarter would be funded from the additional General Capital Grant awarded by WG in February 2022.  Total savings of £0.370m were identified and the final outturn position had resulted in a revised opening funding position surplus of £2.068m, prior to the realisation of additional capital receipts and/or other funding sources.

The first recommendation was moved and seconded by Councillors Vicky Perfect and Bill Crease.  The second recommendation was moved and seconded by Councillors Ron Davies and Linda Thomas.

RESOLVED:

(a)       That having considered the Revenue Budget Monitoring 2021/22 (final outturn) report, the Committee confirms that there are no specific matters to be raised with Cabinet; and

(b)       That having considered the Capital Programme Monitoring 2021/22 (final outturn) report, the Committee confirms that there are no specific matters to be raised with Cabinet.