This report outlines forecast financial position of the organisation at the end of 2021/22 based on the information known at the end of the first quarter.

Cabinet Portfolio Holder – Councillor Peter Butlin

Councillor Peter Butlin (Deputy Leader and Portfolio Holder for Finance and Property) explained to Cabinet that the quarter 1 position was relatively straightforward.  He noted the position with regard to revenue and capital as detailed in the report.

Resolved:

That Cabinet:

1.     Notes the adjusted forecast overspend of £2.846m that would need to be funded from the Directorate and General Risk Reserves at the end of 2022/23.

2.     Notes the forecast delivery of savings for 2022/23 of £9.865m, a shortfall of £0.379m (3.7%) against the target.

3.     Notes the forecast capital spend for 2022/23 of £181.241m.

4.     Approves the carry forward of the reprofiled spend on the capital programme of £8.412m in 2022/23 into future years and note the carry forward of s278 contributions of £0.749m that is not directly controllable by the Council.