Agenda item

Joint Report of the 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 reported that revenue outturn was surplus of £1,111,676 against the budgeted surplus of £1,022,157, £89,519 more than the budgeted position. Earmarked reserves were £191,772 more than originally budgeted, mainly due to additional cremation income received during the year and some capital schemes being carried forward to the next financial year. The retained reserves were forecast to be £1,728,774 along with a General Reserve of £531,675, giving a forecast total reserves and balances position of £2,260,449 at the year end.

Responding to a query from Town Councillor N Foster regarding the rise in fuel prices, the Finance Manager advised that the budget position included allocations in line with the Councils predictions of a 40% increase in electricity and 60% gas increase. He advised there was a healthy reserve, however the situation would be kept under review.

Resolved:

That the April 2021 to March 2022 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.