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Appendix 1

 

 

 

 

 

 

Part A: Executive Summary & Overview                                 Page 2     

 

Part B: Revenue Budget Q1 2021/22

B1)    Revenue Budget                                                             Page 5

 

Part C: Capital Budget Q1 2021/22

C1)     Capital Budget                                                                Page 9 

 

 

 

 

 

 

 

 

 

 

Part B

 

This report provides members with the financial position as at 30 June 2021, covering activity for both the Council as a whole and this committee’s revenue and capital accounts for the first quarter of 2021/22.

Members will be aware of the significant uncertainty in the 2021/22 budget estimates arising from the ongoing impact of the Covid-19 pandemic, both in relation to demands on the Council to respond and the speed of local economic recovery.  Financial support from central government received during 2020/21 continues to support specific activities, and the unringfenced Covid-19 grant of £860,000 will be used to support recovery and renewal activities.

In addition, the Council will shortly be applying for the final round of funding under the government’s sales, fees and charges compensation scheme covering income losses between April – June 2021 measured against the 2020/21 income budget.  This is expected to be the final allocation of unringfenced Covid-19 funding from central government.

The headlines for Quarter 1 are as follows:

Part B: Revenue budget – Q1 2021/22

·         Overall net expenditure at the end of Quarter 1 for the services reporting to ERL is £0.309m, compared to the approved profiled budget of £0.328m, representing an underspend of £0.019m.

Part C: Capital budget – Q1 2021/22

·         Capital expenditure at the end of Quarter 1 was £0.543m against a total budget of £4.453m. Forecast spend for the year is £2.563m.

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B2)  Revenue Budget 

B1.1  The table below provides a detailed summary on the budgeted net income position for ERL services at the end of Quarter 1. The financial figures are presented on an accruals basis (e.g. expenditure for goods and services received, but not yet paid for, is included). 

ERL Revenue Budget & Outturn – Quarter 1

B1.2  The table shows that at the end of the first quarter overall net expenditure for the services reporting to ERL is £0.309m, compared to the approved profiled budget of £0.328m, representing an underspend of £0.019m.

B1.3  At this stage there are no adverse variances to report for this Committee.   

                                                                                                       

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

B1)  Capital Budget: Economic Regeneration & Leisure Committee (ERL)

B1.1  The position of the 2021/22 ERL element of the Capital Programme at the Quarter 1 stage is presented in Table 3 below. The budget for 2021/22 includes resources brought forward from 2020/21.

ERL Capital Programme 2021/22 (@ Quarter 1)

B1.2  Comments on the variances in the table above are as follows:

Mote Park Visitor Centre & Estate Services Building – Construction works are now underway, and the new centre will open in 2022.

Mote Park Lake Dam Works – This scheme is now substantially complete, although some works to a sluice gate are yet to be completed. The figures in the appendix for these works are indicative pending an update on the actual costs of these works.