Issue - meetings

Report of Chief Finance Officer

Lead Cabinet member: Councillor Zoe Nicholson

(Key decision):

(1) To note the provisional outturn for 2021/22.

(2) To approve the recommended transfers to the general fund unallocated and earmarked reserves as presented in section 3 of the report and to delegate authority to the Chief Finance Officer, in consultation with the Cabinet member for finance and assets, to make the necessary adjustments to reflect the amended allocation of £250k to the newly created Cost of Living Support Earmarked Reserve.

(3) To approve the transfers to HRA reserves.

The Cabinet considered the report of the Chief Finance Officer, updating them on the provisional outturn for 2021/22.

Policy and Performance Advisory Committee (PPAC), held on 29 June 2022 considered the report and were supportive of the officer recommendations in full. Councillor Linington, Vice-Chair of Policy and Performance Advisory Committee and Leader of the Opposition, was in attendance to present PPAC’s discussion.

To reflect the amended Cabinet resolution (2) in respect of agenda item 8 (Cost of Living Crisis) and the allocation of £250k to the newly created Cost of Living Support Earmarked Reserve, the Cabinet unanimously agreed to amend officer recommendation (2), and this was reflected below.

Resolved (Key decision):

(1) To note the provisional outturn for 2021/22.

(2) To approve the recommended transfers to the general fund unallocated and earmarked reserves as presented in section 3 of the report and to delegate authority to the Chief Finance Officer, in consultation with the Cabinet member for finance and assets to make the necessary adjustments to reflect the amended allocation of £250k to the newly created Cost of Living Support Earmarked Reserve.

(3) To approve the transfers to HRA reserves.

Reason for decisions:

To enable Cabinet members to consider specific aspects of the Council’s financial performance for 2021/22.