Issue - meetings

To consider the Budget 2021/22 – Quarter 1 Forecast Outturn report.

RESOLVED to approve The General Fund, Housing Revenue Account and Capital Programme forecast outturn positions including the updated use of reserves and requested slippage for the Capital Programme

Councillor Hargreaves presented the report, which detailed the financial performance of the General Fund, Housing Revenue Account, Capital Programme and Treasury Management. Details were based upon actual expenditure and income from April to June and predicted a forecast for the end of the 2021/22 financial year.

In response to a question from Councillor Caton, Councillor Hargreaves said the figures relating to recent interim appointments were not included as the report pertained to quarter one of the financial year. However, recruitment costs for the Chief Executive had been included. He agreed that it would be helpful to have a clear budget line for expenditure relating to the Transformation Programme and this would be included in the next Quarter 2 Forecast Outturn report.

In response to a question on the Housing Revenue Account, the Assistant Director – Resources said rent collections were currently on target, although in light of the furlough scheme coming to an end, a downturn was expected in the near future. Debt management support and additional funds would be made available to assist residents. Councillor Hargreaves added that this was listed as a risk in the report; the issue would be exacerbated by rising fuel and living costs.

In response to a question from Councillor Lees regarding overspend, Councillor Hargreaves confirmed that the term ‘overspend’ related to spending which had been budgeted for but had been spent sooner than expected.

The Leader added that due to the success of the investment programme, additional revenue was being generated earlier than expected.

RESOLVED to approve The General Fund, Housing Revenue Account and Capital Programme forecast outturn positions including the updated use of reserves and requested slippage for the Capital Programme.