Decision Maker: Cabinet
Decision status: For Determination
Is Key decision?: Yes
Is subject to call in?: No
To consider the Council’s revenue budget position at the end of Q2 and the changes since Q1
The Portfolio Holder for Finance, Commercial and Capital Strategy set out the financial management quarter 2 report. The document provided information about the Council’s forecast performance against its revenue budget in 2021/22 and the impact this could have upon reserves.
(a) noted the Senior Leadership Team’s forecast of outturn at the end of Qtr2 including progress of the transformation and tactical savings incorporated into the budget.
(b) noted that work continued on the capital programme, by subgroups established by the Capital Strategy and Asset Management Group (CSAM).
(c) Agreed the financial strategy statement as set out at appendix 2 of the report as the basis for financial management arrangements over the remainder of the year and into the Medium-Term Financial Plan (MTFP) period. The statement incorporated much of the work being taken forward in response to the LGA finance peer review.
Reason to note
The Council had responsibilities to deliver within its corporate plan and it must do this within the resources made available through the revenue and capital budgets for 2021/22. The report summarised the Council’s forecast financial performance for 2021/22 at the mid-point of the year.
Report author: Jim McManus
Publication date: 10/11/2021
Date of decision: 08/11/2021
Decided at meeting: 08/11/2021 - Cabinet