Agenda item

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

RESOLVED –

1.    That at Quarter 2 net expenditure on services year to date was £8,014,000, £495,000 less than budget be noted;

2.    That by year end the Council anticipated net expenditure of £15,417,000 on services, £10,000 under budget, an improvement of £58,000 since Quarter 1, be noted;

3.    That by year end the Council anticipated receiving an increase in funding of £1,472,000, an improvement of £84,000 since Quarter 1 with an overall improvement to budget of £1,482,000 be noted.

REASON FOR DECISION:

To show the actual expenditure on services compared to the revised budget for the period ending 30 September 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 set out in the agenda.

RESOLVED –

1.    That at Quarter 2 net expenditure on services year to date was £8,014,000, £495,000 less than budget be noted;

2.    That by year end the Council anticipated net expenditure of £15,417,000 on services, £10,000 under budget, an improvement of £58,000 since Quarter 1, be noted;

3.    That by year end the Council anticipated receiving an increase in funding of £1,472,000, an improvement of £84,000 since Quarter 1 with an overall improvement to budget of £1,482,000 be noted.

REASON FOR DECISION:

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