Decision status: Recommendations Approved
Is Key decision?: No
Is subject to call in?: No
The Deputy Chief Executive, Director - Resources and Section 151 Officer presented a report which compared the Revised Budgets with the Projected Outturn forecast for the period ending 31 March 2021. The forecast was based on six months performance on the Council’s revenue and capital budgets including the General Fund Revenue, Housing Revenue Account (HRA) and Capital Programme. The accounts showed a projected unfavourable variance of against the revised budget of £0.953mon service budgets, with an overall unfavourable variance of £1.094m. Appendix A to the report detailed the variances in service areas and other budgets.
It was noted that the main reason for the projected unfavourable variance of £0.953m was because of the predicted £1.643mless in fee income than budgeted for. However it was estimated that the Council would be able to claim between £0.300m and £0.500m from the Government in compensation for such loss of income from fees and charges. Appendix B to the report showed the areas that were predicting falls in income. It was also noted that the Nottinghamshire Business Rates Pool may return some funding for the Council in 2020/21.
The HRA budget showed a projected favourable variance against the approved budget of £1.955m. In respect of the Capital Programme, the additions and amendments which required approval were detailed in Appendix C to the report. If these variations were approved the revised budget would be reduced to £56.998m.
AGREED (unanimously) that:
a) the General Fund projected unfavourable outturn variance of between £0.594m and £0.794m be noted;
b) the Housing Revenue Account projected favourable outturn variance of £1.955m be noted;
c) the variations to the Capital Programme at Appendix C to the report be approved; and
d) the Capital Programme projected outturn and financing of £56.505m be noted.
Reason for the Decision
To update Members with the forecast outturn position for the 2020/21 financial year.
Publication date: 29/03/2021
Date of decision: 26/11/2020
Decided at meeting: 26/11/2020 - Policy & Finance Committee