Decision status: Deleted
Is Key decision?: Yes
Is subject to call in?: Yes
To receive the outturn for the 2021-22
The Cabinet had before it a *report of the Deputy Chief Executive (S151) presenting the Revenue and Capital Outturn figures for the financial year 2021/22 for both the General Fund and Housing Revenue Account.
The Cabinet Member for Finance outlined the contents of the report stating that the report had previously been received by the Policy Development Groups and Accounts have been passed to Grant Thornton to audit. The 2021/22 year had presented challenges with regard to reduced income but had produced underspends for both the General Fund and the Housing Revenue Account which had highlighted the sound and realistic proposals within the budget. He made reference to the Capital Programme and the ear marked reserves, the returns on loans and the need to now consider the Medium Term Financial Plan and next year’s budget.
1. The General Fund Outturn achieved in 2021/22 which shows an overall under spend of £29k and the Housing Revenue Account which shows an under spend of £67k be noted.
2. The transfer of the General Fund surplus to the General Fund Reserve be approved which will increase the balance to £2,215k; above the minimum recommended level of £2,000k. Similarly, the transfer of the £67k Housing Revenue Account surplus to the ring-fenced HRA Earmarked Reserves be approved.
3. The Net Transfers to Earmarked Reserves of £408k detailed in the General Fund Service Budget Variance Reports shown in Appendix 1a and 1b and summarised in Appendix 3 be approved,. Note this includes a £1,658k net drawdown of Section 31 Grant to smooth the Collection Fund deficits as legislated by the Government and separately identified on Appendix 1a. Similarly, the Net Transfers to HRA Earmarked Reserves of £1,665k be approved as detailed in the HRA Budget Variance Report shown in Appendix 2 and summarised in Appendix 3.
4. The virement as explained in para 4.6 and the addition to the Revenue Budget of £750k funded from Earmarked Reserves for the purchase of c. 38,000 new waste bins for households as part of the implementation of 3 weekly waste collections, in line with the 1 February Cabinet decision (para 4.7) be approved.
5. The carry forward of £30,763k from the 2021/22 Capital Programme be approved as all of the schemes will be delivered in 2022/23 or later years; long with the transfer to Earmarked Reserves of the unspent £174k.
6. The transfer of Post Hill from the General Fund to the HRA as explained in para 8.8 be approved.
7. The procurement waivers used in Quarter 4 of 2021/22, as outlined in Section 10 be noted.
(Proposed by Cllr B A Moore and seconded by Cllr C R Slade)
Reason for the decision – there is a need for the outturn to be considered together with the carry forward of any surpluses into the following financial year.
Note: *Report previously circulated, copy attached to minutes.
Report author: Andrew Jarrett
Publication date: 01/07/2022
Date of decision: 28/06/2022
Decided at meeting: 28/06/2022 - Cabinet
Effective from: 06/07/2022