Agenda item

The Executive RESOLVED that the spend against the approved revenue budget for the period 1^st April to 31st December 2021 and the end of year forecast be noted.

The Executive considered a report containing a high-level view of the financial performance for the third quarter of 2021/22. It was reported that, at the end of that quarter, an overspend of £893,000 was being projected, a decrease from the projection of £1.6m at the end of the second quarter. The major variances against the budget were noted.

Following questions raised about the apparent discrepancies between the budget agreed by the Council in February 2021 and the information presented in quarterly reports, Members noted the reasons for any differences in numbers and were advised that future monitoring reports would include a reconciliation against the agreed Council budget.

RESOLVED that the spend against the approved revenue budget for the period 1April to 31 December 2021 and the end of year forecast be noted.