Agenda item

Report on the Council's Finance and Performance in 2021/22

To receive a report from the Interim Director of Resources

 

Minutes:

The Interim Director of Resources reported on the Council’s Finance and Performance in 2021/22.

 

The Council delivered a £2.1m revenue surplus after allowing for budgets of £16,345 that will be carried over to 2022/23 relating to work in Economic Development that would take place in the first quarter of 2022/23.This surplus was in the context of performance recovering from Covid-19 faster than the cautious budget predicted when it was set in lockdown in January 2021.

 

The Council received one-off Covid-19 compensation grants from Government for some loss of income and non-ringfenced ‘expenditure’ grants totalling £1.13m, offsetting the operational budget deficit that was set. The Council’s non-operational income from Council tax and these grants meant that an overall surplus of £2.1m was generated in 2021/22.

 

Capital expenditure amounted to £4.7m which was 56% of the approved £8.3m capital programme.

 

The General Fund Reserve had not been completed and audited.

Supporting documents: