Agenda item

The Cabinet considered a report of the Corporate Director of Resources which provided information on the final revenue and capital outturn for the General Fund for 2021/22 and the final outturn for the Council’s Council Tax and Business Rates Collection Fund for 2021/22.  The report also detailed the use of and contributions to earmarked, cash limit and general reserves in year and at year end, together with the closing position regarding balances held at 31 March 2022 and achievement of Medium Term Financial Plan (MTFP) (11) savings targets in 2021/22 (for copy of report, see file of minutes).

Councillor Bell, Deputy Leader and Portfolio Holder for Finance informed Cabinet the report continued to demonstrate that the Council had strong financial resilience and exercised prudent financial management.

Councillor Hopgood, Leader of the Council thanked officers for the comprehensive overview of the Council’s financial performance for 2021/22.  Managing the budget for one of the biggest councils in the country was challenging and soaring inflation and increased bank base rates had added another layer of complexity to forecasting.  The Council continued to focus on delivering its ambitions and priorities, making investments in excellent public services and delivering improvements.

Resolved:

That the recommendations in the report be approved.