Consideration was given to the report of the Chief Finance Officer on the Revenue Budget and Capital Programme draft 2021/22 out turn, which updated Members on the Council’s finances as at the 31 March 2022.  Members were advised that the information was subject to the external audit of the Council’s financial accounts due to commence in September 2022.  The report had also been considered by the Overview and Scrutiny Committee on 18 July 2022. 

The draft revenue out turn for 2021/22 showed an overall deficit of £1.444m, which was £1.256m lower than the approved planned use of reserves, due to the material variances as set out in the report. However, budget pressures were expected to continue into 2022/23 and budget monitoring would play a crucial role in helping the Council achieve its Financial Stability objective laid out in the Corporate Plan.

The draft Capital Programme out turn indicated an underspend of £66.156m against the revised budget, due largely to the pace of the programme continuing to be slowed by the impact of the pandemic. Any scheme slippage would be carried forward into 2022/23 but would also be subject to review by the Finance department and Heads of Service.

RESOLVED: That the report be noted.