Decision details

To receive an update on the latest revenue and capital position and to consider any write off requests, virements and any other financial decisions requiring Cabinet approval.

That the current management position on the 2021/22 accounts be noted:

(a)  The council’s forecast cumulative deficit and improvement as at the end of June 2021/22 of £1.325m.

(b)  The forecast General Fund revenue position for 2021/22 as at the end of June 2021 is a £5.575m overspend;

(c)  The progress towards the 2021/22 savings programme;

(d)  The work being done by all parties across the Council to verify the savings identified in the 21/22 budget and action being taken to mitigate the budget gap in the current financial year by 30/9/21;

(e)  The current DSG cumulative deficit is £23.775m and in-year forecast as at the end of June 2021/22 is £4.885m deficit.

(f)  The current forecast spend on Transformation to deliver savings;

(g)  The Housing Revenue Account (HRA) is forecast to spend to budget for as at the end of June 2021.

(h)  Approve the capital budgets carry forward from 2020/21

(i)  Note that the current capital programme is unaffordable, and a number of schemes are being reviewed to determine whether they can be stopped or their scope reduced.

(j)  Note that funding assumptions in some schemes that had been included in the capital programme as funded from capital receipts have been updated.

(k)  Note the forecast capital spend for 2021/22, pending review of the programme.

(l)  Note that the capital schemes that have been missed in the 2021/22 budget process will be passed to Council for approval in November 2021.

(m)  Note that a number of capital schemes in the programme have already commenced without business cases coming to Cabinet for approval.  These will come to future Cabinet meetings for retrospective decisions as financial governance is improved