Meeting: 07/07/2022 - CABINET (Item 9)
9 Monthly Council Budget Monitoring Report 
PDF 221 KB
Minutes:
RESOLVED:
That the Cabinet:
1. Note the budget monitoring position and treasury management update as at May 2022 (Month 2) as outlined in Part A of this report.
2. Approve the financial recommendations set out below:
a) Approves re-phasing of £25,257k 2021/22 General Fund capital expenditure and financing budgets into future years and the re-phasing of £2,298k 2022/23 Schools Conditions Building Programme funding into future years.
b) Approves re-phasing of £27,765k 2021/22 HRA capital expenditure and financing budgets into future years.
c) Accept revenue grant funding of £5,383k for 2022/23 through to 2024/25 from the Department for Levelling Up, Housing and Communities to deliver a multi-year programme of projects and support to end Rough Sleeping.
d) Accept revenue grant funding of £59k for 2022/23 from the GLA to support the Council Property buy back programme.
e) Approve changes to the Council’s Discretionary Council Tax Energy Rebate Scheme set out in the report.
Reasons for decision
Cabinet was updated on the forecast revenue, capital and treasury position for the current year 2022/23 in order to ensure the Council achieved its budgetary and service objectives.
The Leader of the Council informed Cabinet that operating budgets were on track along with the Council’s savings targets. The Leader explained how pressures relating to the COVID-19 pandemic were still impacting in two ways, through increased demand on services and reduced income. Additionally, the Leader noted the inflationary impact on the Council’s budgets. It was welcomed that the Council was expected to manage such pressures within the current financial year and that there would be no requirement to call on reserves. However, it was noted that the Council would need to increase its savings target going forward and that Cabinet would be updated more fully on this later in the year.
A number of financial recommendations were moved by the Leader including the acceptance of grant funding and a change to the Council’s Discretionary Council Tax Energy Rebate Scheme as set out in the report.
Alternative options considered and rejected
None.
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Relevant Select Committee |
Finance & Corporate |
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Expiry date for any scrutiny call-in / date decision can be implemented (if no call-in) |
Cabinet’s decisions 2 (a-e) can be called in by 5pm Friday 15 July 2022. |
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Officer(s) to action |
Andy Evans |
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Directorate |
Resources |
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Classification |
Public
The report and any background papers relating to this decision by the Cabinet are available to view on the Council's website or by visiting the Civic Centre, Uxbridge. |