Decision details
Resourcing Better Outcomes - Financial Performance Report for July 2021 (Period 4)
Decision Maker: Cabinet
Decision status: Recommendations Approved (subject to call-in)
Is Key decision?: Yes
Is subject to call in?: No
Decision:
The Cabinet considered a report of the Executive Director (Finance and Resources) reviewing the Council’s financial performance.
Recommended:
That, in respect of the 2021/22 Revenue Budget Performance, as set out in Appendix 1 to the submitted report:
1. That the forecast outturn for the General Fund and the Housing Revenue Account as at July 2021, be noted.
2. That the planned budget transfers (virements) of £1,174,050 from earmarked reserves, be approved.
That, in respect of the 2021/22 Capital Budget Performance, as set out in Appendix 2 to the report:
3. That the expenditure to date and the forecast outturn as at July 2021 and its financing, be noted.
4. That the requested changes to the capital investment programme for 2021/22 and future years, as set out in section 3 of Appendix 2 to the report, be approved.
Reasons for decisions:
The regular reporting of Revenue and Capital Budget Monitoring information provides detailed financial information to Councillors, senior officers and other interested parties on the financial performance of the Council. It sets out the key variances being reported by budget holders and the associated management action being implemented to address any identified issues. It also informs decision making to ensure that the Council’s priorities are delivered within the approved budget provision.
Other options:
The Council could choose to monitor its budgetary performance against an alternative timeframe but it is considered that the current reporting schedule provides the appropriate balance to allow strategic oversight of the budget by Councillors and to also formally manage the Council’s exposure to financial risk.
Note: This is a Council Function
Eligible for call-in to: Policy and Resources Committee
Executive Members: Cllrs Gilbert and Collins
Report author: Joe Chesterton
Publication date: 17/09/2021
Date of decision: 14/09/2021
Decided at meeting: 14/09/2021 - Cabinet
Accompanying Documents:
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