Agenda item

Report of the Senior Leadership Team

The Director of Corporate Resources introduced a report, which had been circulated in advance of the meeting, informing Members of the budget outturn and budget carry forwards for 2021/22.

The report also asked Cabinet to note the final outturn position for 2021/22 and:

1)    Approve the movements on earmarked reserves and provisions

2)    Note the capital carry forward budgets approved by the Chief Financial Officer in accordance with financial regulations;

3)    Approve the carry forward of non-committed capital budgets from2021/22 as additions to the 2022/23 budget in accordance with financial regulations; and

4)    Recommend that Council approve the method of financing the 2021/22 capital expenditures which includes making the determinations required for the minimum revenue provision.

RESOLVED to:

1)    Note the budget outturn figures for 2021/22;

2)    Approve the movements in earmarked reserves and provisions as detailed in paragraphs 2.4 and 2.5 respectively;

3)    Note the capital carry forwards approved by the Chief Financial Officer included in appendix 6 to the report, being amounts not in excess of £50,000 and committed schemes above £50,000;

4)    Approve the capital carry forwards of £1,494,300 included in appendix 6 to the report for non-committed schemes in excess of £50,000; and

5)    Refer to full Council for approval:

                         i.         The overall method of financing of the 2021/22 capital expenditure as set out in paragraph 3.4; and

                       ii.         The determination of the minimum revenue provision for the repayment of debt as set out in paragraph 3.5.