The Director of Resources presented this report which highlighted the processes for monitoring the 2021/22 budget and the budget setting process for 2022/23. The Committee was accountable for ensuring that the committee budget remained within the relevant envelope and was to take collective responsibility via the Policy and Resources Committee to ensure that the whole Council budget remained in balance at all times, by agreeing mitigating actions to bring the budget back in line, should a deficit be forecast.

One of the key documents required to enable the Council to receive approval for exceptional financial support was a balanced five-year medium term financial plan (MTFP).  This document was prepared by Officers and required committee oversight and approval, with proposals being taken to workshops and then in further report to Committee.

Resolved - That

(1)  the content of the report and the current forecast position of savings for 2021/22 and the ongoing work being undertaken to mitigate any under-achievement be noted.

(2)  the current proposals within this report from the Medium-Term Financial Plan from 2022/23 – 2025/26 be included and the Director of Neighbourhoods to develop them into full business cases, where appropriate, for inclusion in the 2022/23 budget proposals to Policy and Resources Committee at its October meeting for approval.

(3)  a series of budget workshops be convened to identify any alternative savings/income/reductions in pressures to ensure that a full suite of costed and deliverable proposals can be recommended to the Policy and Resources Committee at its October meeting for approval.