Issue - meetings

Subject

Headline

Reference

Finance

The Finance headlines for the Third Quarter were:

Performance against Budget

·       At the Third Quarter stage the General Fund projected outturn for 2021/22 was an underspend of £1,749,210 including £0.906m in Section 31 grants, which needed to be placed into reserves at year-end for distribution via the Collection Fund in future years.

Efficiency Programme

·       At Quarter Three £633.000 in savings had been taken against the 2021/22 general fund efficiency target of £830,430. It was anticipated that there would be a £160,000 shortfall in the year.

Capital Programme

·       The revised Capital Programme budget for 2021/22 was £4.83m including the carry forward of capital underspends from 2020/21. The projected outturn for the year at Quarter Three was £13.96m’ an overspend of £9.13m. This reflected a £10m loan to Your Housing Group in relation to the provision of affordable housing in the District.

Treasury Management

·       Cash investments held at 31 December 2021 totalled £18.7m. The Ascent loan and debenture stood at £17.15m;

·       Council borrowing at 31 December 2021 totalled £8m (relating to the Ascent loan);

·       The Council’s net interest income receipts for the year was forecast to exceed the budget by £2,130 at the Quarter Three stage.

Revenue Collection

·       83.07% of Council Tax was collected by 31 December 2021 compared to 83.03% for the same period last year (43.92% in 2019/20);

·       76.34% of Business Rates was collected by 31 December 2021 compared to 801.61% for the same period last year (80.45% in 2019/20);

·       At the end of the Third Quarter debt that was over 60 days old was £46,727 which compared with £71,620 at 31 December 2020.

Appendix A

Procurement

The Procurement headlines for the Third Quarter were:

·       13 procurement activities were completed;

·       The Procurement forward plan included 41 procurement activities for completion in 2021/22 (either SMDC only or joint);

·       At 31 December 2021, 50% of procurement activity undertaken was on the forward plan.

Appendix B

Performance

The Performance headlines for the Third Quarter were:

·       74% of the key performance indicators were on track;

·       The Council received 47 complaints, 142 comments and 35 compliments;

·       Priority Actions – 13 green, 2 amber, 1 completed, 16 grey.

Appendix C