Decision Maker: Council
Decision status: For Determination
Is Key decision?: No
Is subject to call in?: No
The Deputy Leader and Finance and Assets Portfolio Holder, Councillor Andrew Jarvis, presented the third quarter financial monitoring report of 2021/22. The report provided the projected year end position based on performance to the end of Quarter 3 and officers’ planned actions to ensure a balanced budget by the end of the financial year.
The report and appendices included details relating to the revenue budget, capital expenditure, collection of Council Tax and business rates and the Council’s current position with regard to debt collection.
Appendix 1 set out the revenue variances to date, highlighting the best estimate of additional costs and loss of income from Covid-19 for 2021/22 which were £570,600 which suggested a saving against the contingency budget of £126,900. Regarding the Business as Usual (BAU) position, there was a projected overspend of £46,000 which was likely to be closed as the year end approached.
Appendix 2 set out the position on the capital programme. Following a review of the capital programme in the autumn of 2021, the programme was now valued at £14.602 million for 2021/22, with nearly £5 million being spent as at 31 December 2021. It was felt that most of the budget would be spent before the end of the financial year due to grants where agreements had been close to being finalised.
Table 4 in the report set out Local Taxation Collection rates which remained low but included more payment plans.
Councillor Jarvis, in closing, said that the report highlighted that the Council continued to be in a good financial position, despite the impact of the pandemic, and was heading to close to a balanced budget in the year. He thanked officers for their work on this and moved the recommendation contained within the report and was seconded by Councillor Doug Rathbone.
Councillor David Webster referred to Appendix 2 to the report and reference to the Ulverston Bank Clock, expressing concern that the scheme appeared to be in the budget for 2023/34 by which time South Lakeland District Council would no longer exist. The Chairman undertook to ensure that a written response was provided.
It was unanimously
RESOLVED – That the contents of the report and Appendices 1 to 3 thereto be noted.
Report author: Claire Read
Publication date: 09/03/2022
Date of decision: 22/02/2022
Decided at meeting: 22/02/2022 - Council