Issue - meetings

The Board considered a report from the Operational Director – Finance, advising of the Council’s overall revenue and capital net spending outturn position for the year 2021/22.

It was reported that the final accounts for 2021/22 were nearing completion.  The revenue spending position for each Department was shown in Appendix one; which presented a summary of spending against the operational revenue budget and costs relating to Covid; Appendix two provided detailed figures for each individual Department.  In overall terms, the outturn position for the year showed that operational net spend was over the approved budget by £1.195m; this excluded unfunded Covid cost of £1.118m, the costs of which had been met directly from earmarked reserves.  Appendix 3 contained the Capital Programme for each Directorate as at 31 March 2022.

The outturn position was a significant improvement on the forecast overspend of £2.998m reported at the end of quarter 3.  There were a number of reasons for the improved financial position; these were detailed in the report.   The key budget variances for the quarter were outlined for the Board, from the following Departments:

·         Children and Families Department;

·         Adult Social Care Department;

·         Education, Inclusion and Provision;

·         Public Health and Public Protection;

·         Finance;

·         Policy, Planning and Transportation; and

·         Community and Environment.

Members were also advised of the financial impact of Covid-19 and a summary of the general Government funding made available to the Council to date was given. 

RESOLVED:  That the report be noted.