Decision details

2021-22 Budget Monitoring for Quarter 4 (1 Jan-31 Mar), 2021-22 Outturn

Decision Maker: Policy and Resources Committee

Decision status: Recommendations Approved

Is Key decision?: Yes

Is subject to call in?: No

Purpose:

This report provides a summary of the year-end revenue position for the 2021/22 financial year as at the end of March 2021. The report provides Members with an overview of budget performance to enable the Committee to take ownership of the budgets and provide robust challenge and scrutiny to Officers on the performance of those budgets.

Decision:

Resolved – That

 

(1)  it be noted that the draft, unaudited outturn variance for 2021/22 is a balanced position, after utilising exceptional financing support.

(2)  the requirement to utilise £5.846m of exceptional financial support, in line with the relevant guidance (see Appendix 2), subject to external audit, be noted.

(3)  the Director of Resources be authorised to accept the revised offer of exceptional financial support from the Department of Levelling Up, Housing and Communities as referred to in Section 3.11 of the report.

(4)  the impact of funding and expenditure as a direct consequence of Covid-19, including the additional funding sources which have been identified, as referred to in section 3.10 of this report be noted.

(5)  transfers to earmarked Reserves, as detailed in the report, be approved.

Reasons for the decision:

It is vitally important that the Council has robust processes in place to manage

and monitor the in-year financial position, to ensure it delivers a balanced position at the end of the year.

 

Regular monitoring and reporting of the revenue budgets and savings achievements enables decisions to be taken in a timely manner, which may produce revenue benefits and will improve financial control of Wirral Council.

 

This report presents timely information on the full year financial position for 2021/22, prior to final audit engagement.

Alternative options considered:

The Council could reject the exceptional financial support and reduce the General Fund balance; however, this would negatively impact the financial resilience of the organisation by limiting its ability to deliver the medium-term financial strategy and respond to emergencies in the borough. This may also result in intervention and/or a public interest report issued by the Council’s external auditor.

Publication date: 08/06/2022

Date of decision: 08/06/2022

Decided at meeting: 08/06/2022 - Policy and Resources Committee

Accompanying Documents: