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.
Cabinet members:
(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.