To consider a report of the Executive Member for Finance and Governance and Director of Finance and Systems.

The Head of Financial Management introduced a report of the Executive Member for Finance and Governance and the Director of Finance and Systems which informed Members of the current 2021/22 forecast outturn figures relating to both Revenue and Capital budgets. It also summarised the latest forecast position for Council Tax and Business Rates within the Collection Fund. It was noted that the report had been recently considered by the Executive. Details were given of the key variance factors which had contributed to what was now a favourable year-end projection.

An opportunity was provided for Members to raise comments on the report’s content. These focussed on: the implications of rising interest rates for the Council’s investment assets; the reasons for, and impact of, vacancy rates, particularly in social care; the extent of slippage in the capital programme; expectations in respect of CCG contributions in respect of hospital discharges; and measures to address the deficit on the Education High Needs Block. It was noted that further information was to be provided outside the meeting on deferred capital programme schemes and intentions in respect of the highways structural maintenance programme; and the suggestions were noted that the findings of a capital programme review, and comments of the Executive on the High Needs Block, be brought to the Committee in due course.

RESOLVED – That the updated positions on the revenue budget, collection fund and capital programme, and the observations now made by Members, be noted.