Decision details

The purpose of this report is to show the position of the Revenue Budget at the end of 2021/22.

To approve the following changes to earmarked reserve:

a)         transfer the amounts as detailed in Corporate Resources and Support, at Appendix B to the ICT Development Fund reserve.

b)         transfer the amounts in City, Developments and Neighbourhoods, as detailed in Appendix B, paras 5.1, 7.1, 8.1, 10.1 to reserves.

c)         transfer the amounts in Adult Social Care as detailed in Appendix B, Paras 12.10 and 12.11 to reserves.

d)         transfer the Delivery Communications and Political Governance reserve to the ICT Development Fund reserve as detail in Appendix C, para 4.2.

e)         transfer the £409k underspend to the managed reserves strategy to support future year budgets.

Approve budget reductions of £740k in 22/23 rising to £1,016k in 2024/25 and delegate authority to the Director of Finance to determine the specific budget ceilings affected.  The savings have been identified through the Fundamental Budget Review described at paragraph 17.

The City Mayor and Overview Select Committee receive a report on the forecast revenue budget position regularly throughout the year (as well as an outturn report at the end of the year). These decisions are consequential to the monitoring exercise.

Not Applicable.