Decision Maker: Executive
Decision status: Recommendations Approved
Is Key decision?: No
Is subject to call in?: Yes
This report provides comparative information on the Council’s revenue expenditure for the period for the first half of the financial year. Members are invited to consider the financial performance and any corrective action that may be deemed appropriate.
The report provides summary information on the overall spending position against the emergency revenue budgets in the current year, as set out in the following tables:
General Fund |
Budget 2021/22 |
Budget to 30 Sep 21 |
Actual to 30 Sep 21 |
Variation |
|
£000s |
£000s |
£000s |
£000s |
Service Budgets |
14,693 |
1,261 |
1,002 |
-259 |
Non-Service Budgets |
-1,854 |
-287 |
-293 |
-6 |
COVID Funding |
-2,567 |
-451 |
-451 |
0 |
Net Budgets |
10,272 |
523 |
258 |
-265 |
Housing Revenue Account |
Budget 2021/22 |
Budget to 30 Sep 21 |
Actual to 30 Sep 21 |
Variation |
|
£000s |
£000s |
£000s |
£000s |
Income Budgets |
-12,353 |
-6,176 |
-6,397 |
-221 |
Management Costs |
3,515 |
1,067 |
973 |
-94 |
Finance Costs |
2,837 |
700 |
700 |
0 |
Property Costs |
6,001 |
1,100 |
1,155 |
55 |
Net Budgets |
0 |
-3,309 |
-3,569 |
-260 |
Revenue spending plans are currently showing a net underspend for the first half of the financial year. Any underspending achieved by the end of the year will reduce the need to call on the Council’s reserves for 2021/22. However, there are a number of areas where spend is in excess of the budget and some areas are likely to continue to be overspent through to the end of the financial year. It therefore remains appropriate to continue to monitor financial performance closely over the remainder of the financial year to ensure that any slippage does not adversely affect the services provided to residents and customers. Commentary on the most significant variations is set out in the briefing paper accompanying the report.
RESOLVED that the Executive notes the Finance Monitoring Report.
Report author: Neil Wood
Publication date: 08/12/2021
Date of decision: 07/12/2021
Decided at meeting: 07/12/2021 - Executive
Effective from: 18/12/2021
Accompanying Documents: