(NOTE: A copy of the report that was considered by the Strategy and Resources Committee on 6 September 2021 is attached).

Council considered the Performance and Financial Management report for Quarter 1 of 2021/22 to the Strategy and Resources Committee on 6 September 2021 (circulated previously).

Report by Director of Resources and Deputy Chief Executive (attached)

The Committee considered a report by the Director of Resources and Deputy Chief Executive (circulated previously) regarding the Performance and Financial Management for Quarter 1 of 2021/22.

The Accountancy Services Manager highlighted the following:

·       The revenue budget for 2021/22 was approved at Council on 24th February 2021 at £13,639,000.

·       As at 30 June 2021, the latest forecast net budget was £13,630,000, which produced a forecast budget surplus of £9,000. Details were shown in “Appendix A – Variations in the Revenue Budget”

·       There was still pressure on the 2021/22 budget due to the Covid-19 pandemic with continued additional costs being incurred and forecast decline in core income sources.

·       Included within the approved budget a government grant had been factored in relation to Covid-19 pressures of £536,710 and also budgeted for £375,000 of additional costs and reduced income, these had already been incorporated into Appendix A along with the latest forecast for each service area.

·       The grant of £536,710 had been approved and received and it was also anticipated that £80,000 re-imbursement would be received for Quarter 1 loss of Sales, Fees and charges, from the continued Government 75% income reimbursement scheme. This was an estimate as the scheme was extended to include the period April to June 2021 only.

·       At the end of 2020/21 NDC placed £375,000 into a Covid Budget management reserve to help mitigate any further adverse variances due to the pandemic in 2021/22, this future protection was still available if required.

·       As at 31 March 2021 the Collection Fund reserve balance was £9,810,252.

·       “Appendix B – Movement in reserves and Balances” detailed the movements to and from earmarked reserves in 2021/22.

·       Full details of the Strategic Contingency Reserve movements and commitments were detailed in “Appendix C – Strategic Contingency Reserve”.

·       The 2021/22 Capital Programme was detailed in “Appendix D – Capital Programme 2021/22”.

·       The Budget and Financial Framework report to Full Council on 24 February 2021 outlined the Capital Programme for the 2021/22 financial year of £22,419,916. Project underspend of £917,121 were bought forward from 2020/21 year and further variations of £1,379,087 were approved as part of the performance and financial management report to Strategy and Resources Committee, to produce a revised 2021/22 Capital Programme of £24,716,124.

·       Overall variations of £99,978 proposed to the 2021/22 Capital Programme were detailed in paragraph 4.4.3 of the report.

·       The overall Capital Programme for 2021/22 to 2024/25 was £37,135,687 and detailed in paragraph 4.4.6 of the report.

·       The Programme of £37,135,687 was funded by Capital Receipts/Borrowing (£18,866,483), External Grants and Contributions (£16,042,616) and Reserves (£2,226,588).

·       Release of Funds for 2021/22 Capital Programme as detailed in paragraph 4.4.10 of the report.

·       Treasury Management as detailed in paragraph 4.5 of the report.

·       Debt Management as detailed in paragraph 4.6 of the report.

·       General Debtors as detailed in paragraph 4.7 of the report.

In response to questions, the Accountancy Services Manager advised the following:

·       The figures in red in Appendix A were better than forecast and the figures in black were worse than forecast.  The  ...  view the full minutes text for item 60