Issue - meetings

The Leader’s Portfolio

To consider report FIN/535 of the Head of Corporate Finance, which was referred to the meeting of the Overview and Scrutiny Commission held on 22 November 2021.

That the Cabinet notes:

a)         the projected outturn for the year 2021/2022 as summarised in this report.

b)         the updated proposed spend of Contained Outbreak Management Fund (COMF) grant funding as outlined in Section 10 of report FIN/535.

Reasons for the Recommendations

To report to Members on the projected outturn for the year compared to the approved budget.

The Leader of the Council presented report FIN/535of the Head of Corporate Finance.  The report set out a summary of the Council’s actual revenue and capital spending for the quarters to September 2021 together with the main variations from the approved spending levels and impact on future budgets.

Councillor T Belben presented the Overview and Scrutiny Commission’s comments on the report to the Cabinet following consideration of the matter at its meeting on 22 November 2021.

RESOLVED

That the Cabinet notes:

a)         the projected outturn for the year 2021/2022 as summarised in this report.

b)         the updated proposed spend of Contained Outbreak Management Fund (COMF) grant funding as outlined in Section 10 of report FIN/535.

Reasons for the Recommendations

To report to Members on the projected outturn for the year compared to the approved budget.

To consider report FIN/535 of the Head of Corporate Finance.

The Commission considered report FIN/535 of the Head of Corporate Finance. The report set out a summary of the Council’s actual revenue and capital spending for the quarters to September 2021 together with the main variations from the approved spending levels and impact on future budgets.

During the discussion with the Leader of the Council, Head of Corporate Finance and Chief Accountant, the following comments were made:

·         Acknowledgement that the council currently had a favourable variance against the original budget largely due to government grants, although it was noted this was likely to be short term.

·         Confirmation provided regarding the improved offer for the surrender of the lease on Kingsgate car park.

·         Recognition of the additional income from interest on deferred receipts from shared equity properties.

·         The Commission expressed its thanks to the Finance Team for its continued hard work throughout the pandemic and beyond.

RESOLVED

That the Commission noted the report and requested that the views expressed during the debate, were fed back to the Cabinet through the Commission’s Comment sheet.