This report provides an update on the revenue budget position of the Council at the end of December 2021. The Quarter 3 monitoring for the Capital Programme and Treasury Management position is contained in a separate report on this Cabinet agenda. The report also highlights the impact of COVID-19 on the financial position of the Council.
In accepting the recommendations, Cabinet will approve and recommend to Council that the budget remains at £10,351,080 as detailed in paragraph 3.3 of the report for 2021/22 and that Cabinet approves that £188,890 of the Quarter 3 underspend is transferred to the Local Government Reorganisation Reserve as detailed in paragraph 3.3 of the report.
The subject of the decision:
This report provided an update on the Revenue Budget position of the Council and the reserve funds at the end of December 2021.
Alternative options considered:
The reason for the decision:
It was a legal requirement under S25 of the Local Government Act 2003 to set a balanced budget and monitor the financial position throughout the year.
That Cabinet approves and recommends to Council that the budget remains at £10,351,080 as detailed in paragraph 3.2 of the report for 2021/22.