Issue - meetings
Meeting: 20/09/2021 - Cabinet (Item 24)
Key Decision
Portfolio Holder
Councillor David Martin – Portfolio Holder for Finance, Revenues and Benefits
Additional documents:
- Enc. 1 for July Financial Monitoring Report, item 24 PDF 440 KB
- Enc. 2 for July Financial Monitoring Report, item 24 PDF 34 KB
- Enc. 3 for July Financial Monitoring Report, item 24 PDF 243 KB
Decision:
RESOLVED that
a) the current forecast outturn for the General Fund, Housing Revenue Account (HRA) and Capital Programme for 2021/22, be received and noted;
b) the budget adjustments outlined in Section 3.1, Table 3 of the report, be approved;
c) Council be recommended to approve the amendments and the addition of new schemes to the Capital Programme 2021/22 to 2025/26 and the funding of the Capital Programme, as set out in Section 7 and Appendix 3 of the report, subject to an amendment to the original recommendation to allow the £700k budget increase for the Depot Roof to be funded by Capital Receipts rather than borrowing (resulting in the full value of the roof being funded from Capital Receipts at £950k).
Minutes:
Cabinet was presented with a summary of the Council’s forecast financial outturn position to 31 March 2022 compared to the latest approved budgets for the General Fund, Housing Revenue Account (HRA) and the Capital
Programme and asked to approve the adjustments/amendments as indicated.
Members were requested to consider a change to the original recommendations to allow the £700k budget increase for the Depot Roof to be funded by Capital Receipts rather than borrowing (resulting in the full value of the roof being funded from Capital Receipts at £950k).
Members considered the alternative option of declining to approve the budget adjustments and the amendments to the Capital Programme, as presented.
RESOLVED that
a) the current forecast outturn for the General Fund, Housing Revenue Account (HRA) and Capital Programme for 2021/22, be received and noted;
b) the budget adjustments outlined in Section 3.1, Table 3 of the report, be approved;
c) Council be recommended to approve the amendments and the addition of new schemes to the Capital Programme 2021/22 to 2025/26 and the funding of the Capital Programme, as set out in Section 7 and Appendix 3 of the report, subject to an amendment to the original recommendation to allow the £700k budget increase for the Depot Roof to be funded by Capital Receipts rather than borrowing (resulting in the full value of the roof being funded from Capital Receipts at £950k).
Reason:
In accordance with the Council’s Financial Regulations to report to those charged with Governance the financial position.