Budget Monitoring Outturn Report P8
This item refers to papers published to the Cabinet meeting on 18th January 2022. The report can be viewed here
8. Budget Monitoring Outturn Report P8 PDF 668 KB
a) Workforce Recruitment and Retention Fund, round 2 of £2.535m
b) COVID Business Support Grant - Omicron Hospitality and Leisure Grant for the period 21 December 2021 to 31 March 2022 - £4.356m
c) COVID Business Support Grant - Additional Restrictions Grant (ARG) for the period 30 December 2021 to 31 March 2022 - £0.794m
d) COVID New Burdens 4 Restart and the Additional Restrictions COVID-19 Grant Schemes of £0.154m
e) COVID New Burdens 5 Post Payment Assurance, Reconciliation and Debt Recovery Funding of £0.048m
f) COVID-19 Business Support Grant - Additional Relief Fund (CARF) - £13.728m
g) The Community Vaccine Champions Programme grant award - £0.485m following the urgent bid submission to the Department for Levelling Up Housing and Communities.
2. The COVID-19 Business Support Grants - Additional Restrictions Grant Policy for the period to 31 March 2022(Appendix B) and to delegate authority to the Chief finance Officer in consultation with the Deputy Mayor, Cabinet member for Finance, Governance, Property and Culture to approve the final prioritisation criteria and business award values once all the applications to the fund have been processed.
1. The forecasted overspend position of £0.7m within the General Fund.
2. The General Fund risks within service areas of non-COVID-19 related overspend on services which continue to be managed via management actions /mitigations within the financial year.
3. The ongoing risks associated with the forecast outturn and the long-term financial impact on the Council as a result of the COVID-19 pandemic.
4. A forecast underspend of £0.65m within the Housing Revenue Account.
5. A forecast in-year deficit of £16.8m and a total £26.8m carried forward deficit in the ring-fenced Dedicated Schools Account (DSG).
6. A breakeven position on Public Health services.
7. A forecast £38.9m underspend against the latest approved Capital Programme’s Budget.