5 Money Matters 2021/22 Position - Quarter 3 PDF 260 KB
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Minutes:
Cabinet considered a report providing an
update on the county council's 2021/22 revenue and capital
financial position, as at the end of November 2021 and an updated
Medium-Term Financial Strategy covering the period 2022/23 to
2024/25.
It was noted that whilst the quarter 3
forecast presented an underspend of £23.45m for the current
financial year, there remained a level of uncertainty about the
longer-term impacts of the ongoing pandemic. The extent and
profiling of any latent impact on price or demand for the county
council services also remained unclear.
Resolved: That;
- The current forecast
underspend of £23.46m on the revenue budget in 2021/22 be
noted;
- The revised funding
gap of £21.690m in 2022/23 be noted and Full Council on 17
February 2022 be asked to approve that this be met from the uncommitted transitional
reserve;
- The revised forecast
funding gap of £42.830m by 2024/25 as set out in the revised
financial outlook forecast for the council be noted;
- Approval be given for
the budget adjustments for 2021/22, and following years' changes,
included in the revised Medium-Term Financial Strategy;
- The contents of the
county council's reserves position be noted;
- The revised 2021/22
capital delivery programme of £165.567m and the forecast
outturn of £164.050m be noted;
- Full Council on 17
February 2022 be asked to approve an indicative capital delivery
programme of £206.263m in 2022/23; and
- Full Council on 17
February 2022 be asked to approve a Band D Council Tax for 2022/23
reflecting a 3.99% increase including 2% to be used for adult
social care as per the new flexibilities.
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