Decision Maker: Cabinet
Decision status: Recommendations Approved
Is Key decision?: Yes
Is subject to call in?: No
Consideration was given to a report of the Cabinet Member for Finance and Corporate / Chief Finance Officer updating Cabinet on the Council’s forecast 2021/22 financial position as at the end of September 2021.
Effective budget management is critical to ensuring financial resources are spent in line with the budget and are targeted towards the Council’s priorities.
1. That the forecast 2021/22 financial positions for Revenue, Capital, and the Collection Fund as at the end of September 2021 be noted.
2. That approval is given to the delegation to the Chief Finance Officer in consultation with the Portfolio Holder of Finance, to award the Insurance Contract and fund any budget shortfall from the budget pressures fund.
3. That authority is given to the Assistant Director for Legal Governance and Workforce to execute the legal documents in connection with the Insurance Contract.
4. That approval is given for the use of £557.2k of Sport England National Leisure Recovery Fund funding to reimburse Your Trust for eligible costs (£555.7k), and to pay Leisure Net Solutions (£1.5k) to cover grant evaluation and monitoring costs.
5. That the Health & Social Care Pool forecast position be noted.
6. That approval be given to the Budget Pressure requests detailed in section 4.3 of the submitted report.
7. That the forecast achieved Savings target be noted.
8. That the net Capital budget changes of £9,560k, be noted.
9. That the Capital re-phasing of £18,491k into future be noted.
10. That approval be granted for the requests to switch budgets within the Economy and Children’s Directorates.
11. That the Capital budget is to be brought back into 2021/22 be noted.
12. That the mid-year 2021/22 Treasury Management update be noted.
Reason for recommendation
To report and support the financial position of the authority, as effective budget management is critical to ensuring financial resources are spent in line with the budget and are targeted towards the Council’s priorities.
Report author: Rose Bennett
Publication date: 24/12/2021
Date of decision: 23/11/2021
Decided at meeting: 23/11/2021 - Cabinet