Agenda item

Joint Report of Corporate Director of Neighbourhoods and Climate Change and Corporate Director of Resources and Treasurer to the Joint Committee

The Joint Committee received a joint report of the Corporate Director of Neighbourhoods and Climate Change and Corporate Director of Resources and Treasurer to the Joint Committee that provided details of the provisional outturn position for 2021/22 and the projected level of reserves and balances at 31 March 2022 (for copy see file of minutes).

The Finance Manager, Neighbourhoods and Climate Change highlighted the projected revenue outturn surplus of £1,096,084 against the budgeted surplus of £1,022,157, £73,927 more than the budgeted position.

In response to a query from Town Councillor D Ranyard regarding the forecasted overspend relating to the roadway entrance widening and new gates, the Neighbourhood and Protection Manager advised that it was not always possible to identify overspends when projecting costs and the project had resulted in unexpected works carried out. Further information would be provided.

Councillor J Blakey added that the cost of metal and materials had increased 75% since the pandemic which would have contributed to the overspend.

Councillor M Steads asked questions regarding additional dividends or one-off payments to the two Authorities if income levels were higher than predicted The Finance Manager, Neighbourhoods and Climate Change advised that contributions to Authorities would remain the same. He explained that any additional income would go into the Crematorium reserves to finance future initiatives. It was noted that additional payment had not been done previously and it was highlighted that money generated over and above could be unpredictable. He added that payments to constituent Authorities were set out in the budget report and suggested that a separate budget strategy could be provided setting out potential options for increasing payments to authorities and identifying other areas that require funds to be set aside.   

Responding to a query from Councillor J Blakey regarding the generator that had been discussed at a previous meeting, the Neighbourhood and Protection Manager advised that it had been included in the budget and projections in the report would be updated to reflect that.

Resolved:

That the April to December 2021 financial monitoring report and associated provisional revenue and capital outturn positions at 31 March 2022, including the projected year position with regards to the reserves and balances of the Joint Committee be noted.