Issue - meetings

General Fund and Housing Revenue Account Outturn Report 2021/22

 

 

Meeting: 29/09/2022 - Strategy and Resources Committee (Item 111)

111 General Fund and Housing Revenue Account Outturn Report 2021/22

To present to the Strategy and Resources Committee the final outturn position against the General Fund revenue budgets for 2021/22.

Additional documents:

Minutes:

The Accountancy Manager presented the report which related to the last financial year, she highlighted the following key points:

·         General Fund had an underspend of £1.761m and the key reasons were set out in Table 2.

·         The underspend had been allocated by the Section 151 Officer and was set out on page 4. This included allocations for cost of living support, levelling up funding projects, cyber security and inflationary pressures.

·         There had been a net reserve movement within the year of £171k.

·         Carry forward requests were set out in Table 5 and totalled £566k.

·         Overall overspend on the HRA of £332k which was broadly in line with the forecasts throughout the year.

·         Section 9 set out the position of the HRA General Reserve.

·         The General Fund Capital programme had a net underspend of £2.154m of which £2.1m has been requested as slippage.

·         2 areas of overspend were highlighted in paragraph 10.6.

·         Major Works in the HRA Capital Programme had a net slippage of £1.6m.

 

Councillor Pearson asked for clarification on the £616k underspend for waste and recycling shown in table 2. The Accountancy Manager advised that the narrative provided in the report was correct and that additional information would be provided in the report to Environment Committee.

 

In response to Councillor Pearson the Accountancy Manager confirmed that if all staffing vacancies had been filled then there would have been additional pressures on the HRA budget but would need to confirm any effects on the capital budget.

 

Proposed by Councillor Brine and Seconded by Councillor Pearcy.

 

The Chair, Councillor Braun, stated that it was great to be able to allocate money towards the Cost of Living Crisis, CN2030 projects and be able to respond the growing inflationary pressures.

 

Councillor Pearson suggested that the large underspend suggested that the council overbudgets.

 

Councillor Pearcy thanked the finance team for putting the report together and stated that the underspend was helpful to cover other costs following a challenging year.

 

On being put to the vote, the Motion was agreed unanimously.

 

RESOLVED

a)    to note the General Fund Revenue Outturn position for 2021/22, as shown in Table 1.

b)    to note the Housing Revenue Account outturn position for 2021/22, as shown in Table 6

c)    to note the transfers to and from earmarked reserves for the year, as detailed in Sections 5 and 8 and Appendix F

d)    to note the Capital Programme outturn position for 2021/22, as shown in Appendix G

e)    e) to approve the slippage of the Capital Programme budget and a revised Capital Programme budget for 2022/23, as shown in Table 11 and Appendix H.