Agenda item

Report from the Strategic Director of Finance and Customer Services.

Recommendations

1.          That the current General Fund Revenue Budget forecast of a balanced budget be noted.

2.          That it be noted that actions will continue to be taken to ensure that a balanced financial outturn is delivered.

3.          That the Capital Programme update be noted.

4.          That the updated position of the Governments Test and Trace Support Payments and Councils Local Scheme for Self-Isolation Support Payments, as per section 2.46 to 2.47 be noted.

Consideration was given to the report which set out in detail the financial position as at the end of September, 2021 and was based on the actual costs and income for the first six months of 2021/22 and forecasted for the remainder of the financial year.

Members noted that financial performance was a key element within the assessment of the Council’s overall performance framework and was essential to achievement of the objectives within the Council’s Policy agenda. The report was the third in a series of monitoring reports for the 2021/22 financial year which would continue to be brought forward to Cabinet on a regular basis.

As at September 2021, the Council expected to deliver the overall outturn within budget for the financial year 2021/22. However, it was noted that the Directorates had a forecast year-end overspend of £9.8m on the General Fund. This was mitigated by the Government’s provision of the COVID-19 emergency support grant and Sales, Fees and Charges Income Compensation. However it was noted that the longer-term impacts of COVID-19, Public Health measures and the pace at which services would return to normal was unknown.

The Capital Programme for 2021/22 totalled £192.578m split between the General Fund (£123.578m) and the Housing Revenue Account (£69.000m.) This was a decrease of £1.111m from the position reported at the end of July 2021. The decrease mainly related to the reprofiling of schemes due to delays caused be COVID-19 and the high volume of capital activity taking place nationally that was straining resources.

The report had been considered by the Overview and Scrutiny Management Board as part of the pre-decision scrutiny process and they noted and agreed with the recommendations, subject to a further condition relating to the cancellation of the HS2 leg and the need to press for increased investment.

Cabinet welcomed and endorsed the recommendation.

Resolved:-  (1)  That the current General Fund Revenue Budget forecast of a balanced budget be noted.

(2)  That actions continuing to be taken to ensure that a balanced financial outturn is delivered be noted.

(3)  That the Capital Programme update be noted.

(4)  That the updated position of the Government’s Test and Trace Support Payments and Council’s Local Scheme for Self-Isolation Support Payments, as per section 2.46 to 2.48 be noted.

(5)  That, in light of the cancellation of the HS2 leg, the matter be raised with the South Yorkshire Mayoral Combined Authority, the need to press for increased investment in respect of connectivity for the north, specifically looking at transport improvements and connectivity.  This will ensure that this area benefits from Government funding, including access to mainline services for the town of Rotherham.