On 28
June 2022, Cabinet:-
(i) Noted the City
Council’s Revenue Budget Provisional Outturn position for 2021/22 of £17.8m
underspend, as detailed in the report and appendix (the finalisation of the
figures remains on going and they will then be subject to External Audit);
(ii) approved the transfer
of the £17.8m revenue budget underspend to the Financial Resilience Reserve
(FRR), as set out in paragraph 4.1;
(iii) approved the other uses
of and contributions to Grant and Earmarked Reserves and Balances set out in
paragraph 4.13;
(iv) approved the use of
£1.0m of the Council Tax Hardship Reserve in 2022/23 to provide extra funding
for Local Welfare Provision, as set out in paragraphs 4.14 to 4.16;
(v) approved the use of
£1.3m of the FRR in 2022/23 to fund an extra 10% top-up to the allocation of
£12.8m from the Government’s Household Support Fund for the City, as set out in
paragraph 4.17;
(vi) approved the use of
£0.2m of General Policy Contingency in 2022/23 for JNC staffing in Place,
Prosperity & Sustainability as part of the new Council structure as set out
in paragraph 4.19;
(vii) noted the resource
allocations within Specific and General Policy Contingency for Pension Fund
costs, the Apprenticeship Levy, Highways Maintenance, and a JNC position, as
set out in paragraph 4.18, these have already been agreed by the S151 Officer
under delegated authority;
(viii) approved the financing
of capital expenditure for 2021/22 as set out in Appendix A Annex B;
(ix) noted the Treasury
Management Annual Report as set out in Appendix A Annex C, and that the Council
remained within its prudential limits set under the Local Government Act 2003
and the Chartered Institute of Public Finance and Accountancy (CIPFA)
Prudential Code for Capital Finance;
(x) noted the Housing
Revenue Account outturn position as set out in Appendix A Annex D and the
transfer of the balance to the ring fenced HRA reserve;
(xi) noted the outturn
position on the Collection Fund as set out in Appendix A Annex E to the report,
and how the final outturn position is taken into account when setting future
years budgets;
THE
DEADLINE FOR CALL IN IS 1600 HOURS ON MONDAY 4 JULY 2022.