Issue - meetings

The attached report presents the revenue and capital outturn for 2021/22.

Cllr Tom Davies introduced the report and moved the officer recommendation.  He stated that this has been one of the most challenging and unpredictable years and that it is a huge testament to the strong financial leadership provided by Cllr Richard Samuel and the Council’s senior officers that the report presents a £4m favourable result for the last financial year.  This was the second year of the Covid pandemic and there was considerable pressure on the budgets for both adult and children’s services.  The favourable position enables the Council to build resilience for this and future years so that investments can be made in services to improve the lives of all B&NES residents.  For example, £2.7m will be invested to provide the Park and Ride service and the strong position will also help the Council to manage the extraordinary increase in energy prices without impacting on services.  He also thanked Andy Rothery, Chief Finance Officer, and the finance team for producing such clear and transparent reports.  Sound financial management enables the Council to remain resilient in the face of current challenges and to continue to invest in the priorities of residents.

Cllr Manda Rigby seconded the motion.

RESOLVED (unanimously):

(1)  To note the revenue budget outturn on budget position for 2021/22, after allowing for carry forwards and transfers to reserves.

(2)  To approve the revenue carry forward proposals listed in the tables in paragraph 3.30 of the report.

(3)  To approve that all other over budgets are written-off as an exception to the Budget Management Rules for 2021/22.

(4)  To approve the transfer of £4.03m to corporate earmarked reserves, the breakdown of which is detailed in paragraph 3.31 of the report.

(5)To note the revenue virements for 2021/22 reported for information in Appendix 2(i) of the report.

(6) To note the reserve positions and the use of flexible capital receipts shown in paragraphs 3.40-3.43 of the report.

(7)  To note the outturn position of the 2021/22 capital programme in paragraph 3.52, and the funding outlined in paragraph 3.54 of the report.

(8)  To approve the capital rephasing and write-off of net underspends as listed in Appendix 3 of the report. This reflects the outturn spend position on projects against final budgets as detailed in Appendix 4(ii) of the report.