Decision details

General Fund Budget Outturn 2021/22

Decision Maker: Cabinet, Council

Decision status: For Determination

Is Key decision?: Yes

Is subject to call in?: No

Decision:

*RESOLVED –

 

1.    That the General Fund Revenue and Capital Outturn reports for 2021/22 be noted.

 

2.    That the proposal to make a contribution to the Business Rates Reserve to meet the 2022/23 deficit on business rates income, as set out in paragraph 4.10 of the officer’s report, be approved.

 

3.    That whilst the 2021/22 distribution from the Business Rates Pool which was yet to be announced, it be agreed that any surplus over the assumed £300k be transferred to the Business Rates Reserve, as set out in paragraph 4.12 of the officer’s report.

 

4.    That the General Fund Revenue carry forward requests, as detailed in paragraph 4.13 of the officer’s report, be approved.

 

5.    That the implementation of the £9.90 per hour real living wage from 1 April 2022 be funded from the underspend in 2021/22 and included within the Medium-Term Financial Plan (MTFP) for future years, as detailed in paragraphs 4.14 to 4.17 of the officer’s report.

 

6.    That the use of the Budget Risk Reserve to fund the cost of Chesterfield Pride Sponsorship, as detailed in paragraph 4.18 of the officer’s report, be approved.

 

7.    That the level of and movement in the General Fund Revenue Reserves and Provisions, as outlined in paragraphs 4.19 to 4.24 and Appendix A of the officer’s report, be approved.

 

8.    That the proposal to transfer the General Fund Revenue surplus for the financial year 2021/22 to the Budget Risk Reserve, as outlined in paragraphs 4.25 to 4.26 and Table 4 of the officer’s report, be approved.

 

9.    That the General Fund Capital financing arrangements, as set out in Appendix B of the officer’s report, be approved.

 

10.   That it be recommended to Full Council that the report be noted.

REASONS FOR DECISIONS

 

1.    This report forms a key part of formal revenue and capital monitoring against the 2021/22 budget. There will be a separate report for the Housing Revenue Account covering both the revenue and capital elements. The information in these reports will be incorporated into the published Statement of Accounts 2021/22.

 

2.    The approval of the budget outturn, in-year movements, carry forward requests and reserves are required by corporate financial procedures.

 

3.    To consider the reserves position given the challenges facing the Council over the period of the MTFP.

Reason Key: Has a significant impact in environmental, physical, social or economic terms on communities;

Wards Affected: (All Wards);

Contact: Theresa Channell, Service Director - Finance Email: theresa.channell@chesterfield.gov.uk.

Report author: Theresa Channell

Publication date: 21/06/2022

Date of decision: 21/06/2022

Decided at meeting: 21/06/2022 - Cabinet

Accompanying Documents: