Decision Details

Revenue in excess of £500K

On 9 November 2021, Cabinet noted the update.

1. Noted the City Council’s 2021/22 forecast at 30th September 2021 of a net overspend of £10.2m, comprising of £32.9m direct Covid related expenditure and reduction in income, partially offset by revenue budget non-Covid underspends of £22.7m;

    

2. Noted that corrective action will take place to ensure the budget is balanced by March 2022;

    

3. Noted that Directorates are reporting that £19.8m of the £36.7m savings targets are either delivered or on track. This represents 54% of the total target with a further 38% ( £14.1m) anticipated to be delivered. Directorates are continuing to work towards ensuring that these savings are brought on track and are delivered;

    

4. Noted that the forecast capital expenditure in 2021/2022 is £709.2m;

    

5. Noted that reporting is now in the new Council Directorate structure;

    

6. Noted the allocation of Specific Policy Contingency as set out in paragraph 4.14 to the report;

    

7. Approved the allocations of General Policy Contingency as set out in paragraph 4.15 to the report;

    

8. Noted the expected underspend on Specific Policy Contingency as set out in paragraph 4.17 to the report;

    

9. Noted the Treasury Management and Investment Portfolio Reports that are included in Appendix A to the report;

    

10. Approved the use of £10.0m of the Delivery Plan Reserve as set out in paragraph 4.19 to the report;

     

11. Approved the writing off of debts over £0.025m as described in paragraph 4.12 to the report;

     

12. Approved the allocation of £0.745m Corporate Capital Contingency for investment in CCTV as set out in paragraph 4.7 to the report.

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