Issue - meetings

Resourcing Better Outcomes - Financial Performance Report for November (Period 8)

Meeting: 10/02/2022 - Policy and Resources Scrutiny Committee (Item 693)

693 Resourcing Better Outcomes - Financial Performance Report for November (Period 8) pdf icon PDF 762 KB

Minute 602 (Cabinet Agenda Item No. 6 refers)

Called-in by Councillors Cox and Davidson

Additional documents:

Minutes:

The Committee considered Minute 602 of the meeting of the Cabinet held on 13 January 2022, which had been called-in to the Committee for scrutiny, together with a report of the Executive Director (Finance and Resources) reviewing the Council’s financial performance.

 

Resolved:

 

That the following recommendations of the Cabinet be noted:

 

“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 November 2021 and the intention to defer the previously approved use of £2.5M from Reserves to support the 2021/22 budget, be noted.

 

That, in respect of the 2021/22 Capital Budget Performance, as set out in Appendix 2 to the report:

 

2. That the expenditure to date and the forecast outturn as at November 2021 and its financing, be noted.

 

3. That the requested changes to the capital investment programme for 2021/22 and future years, as set out in Section 4 of Appendix 2 to the report, be approved.”

 

Note: This is a Council Function

Cabinet Members: Councillors I Gilbert and P Collins

 


Meeting: 13/01/2022 - Cabinet (Item 602)

602 Resourcing Better Outcomes - Financial Performance Report for November (Period 8) pdf icon PDF 762 KB

Report of Deputy Chief Executive and Executive Director (Finance and Resources) attached

Additional documents:

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 November 2021 and the intention to defer the previously approved use of £2.5M from Reserves to support the 2021/22 budget, be noted.

 

That, in respect of the 2021/22 Capital Budget Performance, as set out in Appendix 2 to the report:

 

2. That the expenditure to date and the forecast outturn as at November 2021 and its financing, be noted.

 

3. That the requested changes to the capital investment programme for 2021/22 and future years, as set out in Section 4 of Appendix 2 to the report, be approved.

 

 

Reasons for Decision

 

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 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 Scrutiny Committee

Cabinet Members: Cllrs Gilbert and Collins

Minutes:

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 November 2021 and the intention to defer the previously approved use of £2.5M from Reserves to support the 2021/22 budget, be noted.

 

That, in respect of the 2021/22 Capital Budget Performance, as set out in Appendix 2 to the report:

 

2. That the expenditure to date and the forecast outturn as at November 2021 and its financing, be noted.

 

3. That the requested changes to the capital investment programme for 2021/22 and future years, as set out in Section 4 of Appendix 2 to the report, be approved.

 

 

Reasons for Decision

 

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 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

Called-in to Policy and Resources Scrutiny Committee

Cabinet Members: Cllrs Gilbert and Collins


 

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