Appendix 1

 

 

 

 

 

 

Part A: Executive Summary & Overview                                 Page 2     

 

Part B: Revenue Budget Q1 2022/23

B1)    Revenue Budget                                                             Page 5

 

Part C: Capital Budget Q1 2022/23

C1)     Capital Budget                                                                Page 9 

 

 

 

 

 

 

 

 

 

 

Part B

 

This report provides members with the financial position as at 30^th June 2022, covering activity for the Planning & Infrastructure Policy Advisory Committee’s (PI PAC) revenue and capital accounts for the first quarter of 2022/23.

In 2021/22, income recovered more strongly than expected from the pandemic and the Council generated a modest surplus compared with budget. For 2022/23, there is no more direct government funding to cover the costs of Covid, but the Council has been able to set a balanced budget. Additional provision of £1.3 million was made within the 2022/23 budget for the expected impact of higher inflation on the Council’s input costs.  The projected peak level of inflation has continued to increase since the budget was set and this is likely to have an impact in particular on contract and energy costs, so the requirement for this provision will be monitored carefully to assess whether it will be adequate.   If at any stage it appears that an overspend is likely, measures will need to be taken in-year to bring the budget back into balance.

The headlines for Quarter 1 are as follows:

Part B: Revenue budget – Q1 2022/23

·         Overall net expenditure at the end of Quarter 1 for the services reporting to PI PAC is -£0.230m, compared to the approved profiled budget of £0.174m, representing an underspend of £0.403m.

Part C: Capital budget – Q1 2022/23

·         Capital expenditure at the end of Quarter 1 was £0.000m against a total budget of £0.206m.

 

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B2)  Revenue Budget 

B1.1  The table below provides a detailed summary on the budgeted net income position for PI PAC 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). The Lead Member for Planning & Infrastructure is responsible for all the services shown below.  

PI PAC Revenue Budget & Outturn – Quarter 1

               Planning Services

              

 

 

 

 

 

Parking Services

B1.2  The table shows that at the end of the fourth quarter overall net expenditure for the services reporting to PI PAC is -£0.230m, compared to the approved profiled budget of £0.174m, representing an underspend of £0.403m.

B1.3  The table indicates that in certain areas, significant variances to the budgeted income levels have emerged during the first quarter of the year. The reasons for the more significant variances are explored in section B2 below.

 

B2)  Variances

B2.1  The most significant variances for this Committee are as follows:                                  

 

	Positive Variance Q1	Adverse Variance Q1	Year End Forecast Variance
Planning & Infrastructure	£000
PLANNING SERVICES
Development Control Majors – While income levels have been high during the 1st quarter it is still not certain that these will be sustained over the remainder of the year. It is also proposed that this underspend will be utilised to fund some changes that are proposed within the Planning team.	118		0

 

Local Plan Review

 

The Local Plan Review (LPR) process is an important, high profile and continuous task

undertaken by the Planning Services team. The associated revenue spending profile however

is cyclical and does not fit the conventional 12-month financial planning process for general

revenue expenditure. Instead, spending tends to follow the five-year production period of

each Local Plan with various peaks and troughs over that time period.

 

The LPR process is therefore funded through an annual £200,000 revenue contribution, in

addition to the existing service budget, with any remaining unspent balances at year end

automatically rolled forward into the following financial year. The table below shows the

available revenue resources currently allocated to fund LPR activities, and the spend as at 30^th June 2022.

 

Opening Balance 01/04/2022	Spending April - June 2022	Forecast Spending July - March 2023	Forecast Spending Balance 31/03/2023
£'s	£'s	£'s	£'s
1,461,727	42,737	1,420,073	-1,083

 

In addition to the annual funding a further £1m was allocated from the New Homes Bonus for 2022/23 for the LPR.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

B1)  Capital Budget: Planning & Infrastructure PAC

B1.1  The position of the 2022/23 PI PAC element of the Capital Programme at the Quarter 1 stage is presented in Table 3 below. The budget for 2022/23 includes resources brought forward from 2021/22.

It was originally intended that the Medway Street flood barrier, to be funded from the residual Bridges Gyratory Scheme budget, would be installed this year.  However, following a change in project management arrangements, commissioning has taken longer than expected and the scheme is now expected to go ahead next year.