Minutes:
The Committee received a report of the Corporate Director of Resources which provided details of the forecast outturn budget for Neighbourhoods and Climate Change, highlighting major variances in comparison with the budget based on the position to the end of the third quarter of 2021/22 (for copy of report see file of minutes).
Presenting the report, the Finance Manager for Neighbourhoods and Climate Change reported a forecast cash limit underspend of £1.006 million against the revised budget of £109.255 million, with the outturn taking account of £5.6 million of COVID-19 related costs treated as outside of the cash limit. These include waste disposal costs, increased agency fees relating to staff absences and increased costs related to social distancing.
The Finance Manager highlighted the forecast cash limit reserve position was £1.9 million which will provide the service with some flexibility to deal with unbudgeted expenditure in the future. The outturn also took account of a contribution to and from reserves of £407,000 which will be used to fund future initiatives. The Committee noted the revised capital budget of £45.405 million, with expenditure during the first nine months amounting to £29.636 million. Key areas of spend during the period included highways and bridges and environmental and crematoria schemes.
Resolved:
That the report be noted