Issue - meetings

That:

1)      the outturn position of the revenue budget and the level of balances in respect of the General Fund, Housing Revenue Account and Dedicated Schools Grant be noted;

2)      the General Fund carry forward requests of £667,000 as set out in Appendix B to the report be agreed, and that it be noted that the request was significantly less than in the previous year where carry forwards were £7.5m;

3)      a supplementary estimate of £1.002m for the 1.75% cost of living pay award for 2021/22 be approved, factoring in arrival at a budgeted General Fund balance for March 23 in excess of £8m.

The Executive considered a report relating to the revenue outturn position for 2021/2022 which highlighted the effective management of the Council’s finances to ensure value for money for Council tax payers, housing tenants and schools.

The Executive Member for Finance reminder Members that many of the actions had been carried over from the previous administration and could not be changed. This included the cost of living pay award for staff of 1.75 percent.

Councillor Jones sought clarity as to whether then General Fund Balance stood at £10m at the end of March as detailed by some on social media, or nearer the value of £9m. Councillor Shepherd-DuBey confirmed that the General Fund Balance stood at £9m at the end of March 2022.

RESOLVED that:

1)      the outturn position of the revenue budget and the level of balances in respect of the General Fund, Housing Revenue Account and Dedicated Schools Grant be noted;

2)      the General Fund carry forward requests of £667,000 as set out in Appendix B to the report be agreed, and that it be noted that the request was significantly less than in the previous year where carry forwards were £7.5m;

3)      a supplementary estimate of £1.002m for the 1.75% cost of living pay award for 2021/22 be approved, factoring in arrival at a budgeted General Fund balance for March 23 in excess of £8m.