Issue - meetings

To consider and decide on the recommendations as set out in the associated report.

RESOLVED –

1.    That at Quarter 1 net expenditure on services year to date was £3,337,000, £159,000 less than budget, be noted;

2.    That by year end the Council anticipated net expenditure of £15,269,000 on services, £48,000 over budget, be noted; and

3.    That by year end the Council anticipated receiving an increase in funding of £1,388,000, an overall improvement to budget of £1,340,000 which would reduce the budget deficit that was to be met from reserves, be noted.

REASON FOR DECISION: To show the actual expenditure on services compared to the revised budget for the period ending 30 June 2021, and the forecast outturn position, highlighting significant variances from the revised annual budget.

Jane Fineman, Head of Finance, Procurement and Parking introduced the report as set out in the agenda.

Discussion and questions from Members included the following:

-       Quarter one had been good news for the Council.  But there remained funding issues for the Council going forward.

RESOLVED –

1.    That at Quarter 1 net expenditure on services year to date was £3,337,000, £159,000 less than budget, be noted;

2.    That by year end the Council anticipated net expenditure of £15,269,000 on services, £48,000 over budget, be noted; and

3.    That by year end the Council anticipated receiving an increase in funding of £1,388,000, an overall improvement to budget of £1,340,000 which would reduce the budget deficit that was to be met from reserves, be noted.

REASON FOR DECISION: To show the actual expenditure on services compared to the revised budget for the period ending 30 June 2021, and the forecast outturn position, highlighting significant variances from the revised annual budget.

To consider and provide a recommendation to Cabinet on the proposals set out in the attached report.

Clare Hazard, Accountancy Manager introduced the report set out in the agenda.

Discussion and questions from Members included the following:

-       The £486k support grant had already been received from Government.

-       The £262k towards the cost of new burdens had also been received.

-       The estimated £570k towards sales, fees and charges had not been received.  The claim form needed for this had not been released so timing for this payment was not yet known.

-       The overall assessment for Quarter 1 was good news.  However the  shortfall needed for next year was unlikely to receive any additional funding support from Government so it was predicted there would be financial difficulties for the Council going forward. 

RESOLVED – That the recommendations to Cabinet as set out in the report be supported.