Issue - meetings

Consideration was given to the report of the Chief Officer Resources.

The Service Manager Accountancy noted the report which provided an overview of each Portfolio’s actual and forecast capital expenditure against funding approvals for the 2021/2022 financial year, as at 30^th September 2021.

The Service Manager advised that the overall financial position as forecast at 30^th September 2021 indicated an adverse variance of £283,128 against a total in year capital budget of £17.12m. It was reported that the adverse variance was due to overspends on the Household Waste Recycling Centre and Lime Avenue Business Park. It was added that discussions are ongoing with the relevant funding bodies as it was not proposed that monies be drawn down from the Council’s contingency fund to address the overspends at this time.

The Service Manager further referred Members to the appendices which provided greater detail.

The Leader welcomed the report and current position.

RESOLVED that the report be accepted and

·        the appropriate challenge to the financial outcomes in the report was made;

·        the appropriate financial control procedures as agreed by Council was supported; and

·        the budgetary control and monitoring procedures in place within the

·        Capital Team, to safeguard Authority funding be noted.