Issue - meetings

Committee considered a presentation which provided the outturn position for the 2021/2022 financial year in relation to the Council’s General Fund, Housing Revenue Account, Capital Investment Programme, and Treasury Management.

The Treasurer highlighted that Government funding had been received to assist with the effects of the Covid-19 Pandemic, specifically in relation to Business Support Grant funding, Test and Trace support payments for individuals, emergency funding costs, compensation for the Council’s income losses, and the Covid-19 Additional Relief Fund (CARF) for businesses.

In response to a Member’s question, the Treasurer clarified that the Council had provided funding to Parish and Town Councils to assist with the effects of the Covid-19 pandemic, from the allocation given to the Council by the Government rather than from monies allocated to be paid out to businesses.  Parish and Town Councils were not required to pay this money back. 

The Treasurer further advised that the Business Support Grant underspend would be returned to the Government and that all grants had now ended.

The Portfolio Holder for Finance commented that the outturns were good and that the financial management processes had worked effectively.  He stressed the importance of remaining prudent to ensure that the accounts balanced and highlighted that the amount of reserves would enable consideration to be given to any unforeseen expenses.  He referred to Table 2 in the report and stressed the importance of achieving potential new income as this would help with the financial challenges likely to be faced by the Council in the future, particularly during 2025/26.

Reference was made to the Housing Revenue Account and the stringent efforts being made with the Council’s void properties to ensure that they were available to rent as quickly as possible.

Councillor Moesby commended the work of those involved in producing the accounts and the outturn.

Moved by Councillor Tom Munro and seconded by Councillor Graham Parkin

RESOLVED that (1) the report be noted,

(2) transfers to earmarked reserves of £1.146m and £0.234m as outlined in detail in the report at paragraphs 2.3 and 2.15 respectively, be noted,

(3) the proposed carry forward of capital budgets as detailed in Appendix 4 to the report, totalling £6.488m, be noted.

(Treasurer)