This report sets out the current position regarding the Council’s finances.
Portfolio Holder – Councillor Peter Butlin
Councillor Peter Butlin (Deputy Leader of the Council) presented this report, noting that in terms of the revenue forecast, an overall overspend was still forecasted since the position at quarter 2. He noted that there had been a small increase in the remaining service variance, but this only left a net overspend of £0.55m, which was well within the acceptable tolerance.
There were no questions or comments on the report.
1. Notes the adjusted forecast overspend of £0.551m that would need to be funded from the Directorate and General Risk Reserves at the end of 2021/22.
2. Notes there is a forecast adverse variance of £0.747m in the delivery of 2021/22 savings.
3. Approves the carry forward of £0.072m from Environment Services forecast underspend to enable the purchase of a replacement recovery vehicle for County Fleet Management reducing running cost as well as future maintenance costs.
4. Notes the forecast capital spend for 2021/22 of £138.529m, of which £124.363m is capital payments controllable by the County Council and the balance, of £14.166m, relates to schemes funded by s278 developer contributions where the timing is not directly controllable by the Council.
5. Approves the carry forward of the reprofiled spend on the capital programme of £29.255m in 2021/22 into future years and note the carry forward of s278 contributions of £2.576m that is not directly controllable by the Council.