Agenda item

[To provide an integrated finance and performance update against the Relighting Our City priorities]

1.      That the establishment of supplementary expenditure budgets within the 2021-2022 approved budget as detailed in section 9.0 and Appendix 3 to the report for grant funded expenditure be approved.

2.      That the use of £7,000 from the Wholesale Market Sinking Fund to fund car park resurfacing at Wholesale Markets as detailed in paragraph 10.4 of the report be approved.

3.      That the use of £190,000 from the Budget Contingency Reserve to fund the additional resources required to support a temporary expansion in recruitment processes across the Council as detailed at paragraph 10.5 of the report be approved.

4.      That the contribution of £47,000 from the Budget Contingency Reserve to fund additional resources in the Information Governance Team to ensure continued statutory compliance as detailed in paragraph 10.6 of the report be approved.

5.      That the use of £1.8 million from the Adults Social Care Reserve to fund growing demand within various services as detailed in paragraph 10.7 of the report be approved.

6.      That the write-off of six Council Tax debts totalling £40,607.02 as detailed in Appendix 9 to the report be approved.

7.      That the write-off of two Non-Domestic Rates (NDR) debts totalling £63,595.44 as detailed in Appendix 10 to the report be approved.

8.      That the write-off of six Sundry Debts totalling £147,325.73 as detailed in Appendix 8 to the report be approved.

9.      That 21 virements totalling £6.7 million, for transfers within directorates, as detailed in Appendix 11 to the report be approved.

10.   That it be noted that the General Fund projected outturn for 2021-2022 is currently forecast to be a breakeven position (excluding the impact of Covid-19).  This forecast is after the transfer of £4 million into the Future Years Budget Strategy Reserve in accordance with the 2022-2023 budget strategy and £3.4 million contribution towards reducing the utilisation of capital receipts flexibility in line with the 2021-2022 budget strategy.

11.   That it be noted that it is anticipated that the cost of redundancies can be met from reserves.

12.   That it be noted that a £11.5 million surplus on the Housing Revenue Account (HRA) is projected compared with a budgeted surplus of £13.1 million as shown at Table 3 and in detail at Appendix 5 to the report. The projected reduction to the surplus of £1.6 million would reduce redemption of debt by £1.6 million.

13.   That it be noted that 733 council tax accounts totalling £456,782.91, as detailed in paragraph 11.2 and Appendix 7 to the report, have been approved for write-off by the Director of Finance in accordance with the Council’s Financial Procedure Rules.

14.   That it be noted that 28 Non-Domestic Rates (NDR) debts totalling £194,901.74, as detailed in paragraph 11.2 and Appendix 7 to the report, have been approved for write-off by the Director of Finance in accordance with the Council’s Financial Procedure Rules.

15.   That it be noted that 16 housing benefit overpayments totalling £1,451.30 as detailed in paragraph 11.2 and Appendix 7 to the report, have been approved for write-off by the Director of Finance in accordance with the Council’s Financial Procedure Rules.

16.   That it be noted that 73 sundry debt accounts totalling £45,619.10, as detailed in paragraph 11.2 and Appendix 7 to the report, have been approved for write-off by the Director of Finance in accordance with the Council’s Financial Procedure Rules.

17.   That the performance against the key indicators as set out in appendix 1 to the report be noted.

Councillor Stephen Simkins outlined key points from the integrated finance and performance update report against the Council's Relighting Our City recovery priorities.  The report also detailed the likely budget outturn projection for the 2021-2022 financial year.

Resolved:

1.    That the establishment of supplementary expenditure budgets within the 2021-2022 approved budget as detailed in section 9.0 and Appendix 3 to the report for grant funded expenditure be approved.

2.    That the use of £7,000 from the Wholesale Market Sinking Fund to fund car park resurfacing at Wholesale Markets as detailed in paragraph 10.4 of the report be approved.

3.    That the use of £190,000 from the Budget Contingency Reserve to fund the additional resources required to support a temporary expansion in recruitment processes across the Council as detailed at paragraph 10.5 of the report be approved.

4.    That the contribution of £47,000 from the Budget Contingency Reserve to fund additional resources in the Information Governance Team to ensure continued statutory compliance as detailed in paragraph 10.6 of the report be approved.

5.    That the use of £1.8 million from the Adults Social Care Reserve to fund growing demand within various services as detailed in paragraph 10.7 of the report be approved.

6.    That the write-off of six Council Tax debts totalling £40,607.02 as detailed in Appendix 9 to the report be approved.

7.    That the write-off of two Non-Domestic Rates (NDR) debts totalling £63,595.44 as detailed in Appendix 10 to the report be approved.

8.    That the write-off of six Sundry Debts totalling £147,325.73 as detailed in Appendix 8 to the report be approved.

9.    That 21 virements totalling £6.7 million, for transfers within directorates, as detailed in Appendix 11 to the report be approved.

10. That it be noted that the General Fund projected outturn for 2021-2022 is currently forecast to be a breakeven position (excluding the impact of Covid-19).  This forecast is after the transfer of £4 million into the Future Years Budget Strategy Reserve in accordance with the 2022-2023 budget strategy and £3.4 million contribution towards reducing the utilisation of capital receipts flexibility in line with the 2021-2022 budget strategy.

11. That it be noted that it is anticipated that the cost of redundancies can be met from reserves.

12. That it be noted that a £11.5 million surplus on the Housing Revenue Account (HRA) is projected compared with a budgeted surplus of £13.1 million as shown at Table 3 and in detail at Appendix 5 to the report. The projected reduction to the surplus of £1.6 million would reduce redemption of debt by £1.6 million.

13. That it be noted that 733 council tax accounts totalling £456,782.91, as detailed in paragraph 11.2 and Appendix 7 to the report, have been approved for write-off by the Director of Finance in accordance with the Council’s Financial Procedure Rules.

14. That it be noted that 28 Non-Domestic Rates (NDR) debts totalling £194,901.74, as detailed in paragraph 11.2 and Appendix 7 to the report, have been approved for write-off by the Director of Finance in accordance with the Council’s Financial Procedure Rules.

15. That it be noted that 16 housing benefit overpayments totalling £1,451.30 as detailed in paragraph 11.2 and Appendix 7 to the report, have been approved for write-off by the Director of Finance in accordance with the Council’s Financial Procedure Rules.

16. That it be noted that 73 sundry debt accounts totalling £45,619.10, as detailed in paragraph 11.2 and Appendix 7 to the report, have been approved for write-off by the Director of Finance in accordance with the Council’s Financial Procedure Rules.

17. That the performance against the key indicators as set out in appendix 1 to the report be noted.