Decision details

Decision made

That Cabinet:

1.    Notes the forecast position for revenue and reserves as at 31^st January 2022.

2.    Notes the virements to the revenue budget made during the period, as detailed in Appendix 2 of the report.

3.    Approves the creation of reserves from the forecast in-year underspend and the reallocation of existing reserves as follows:

• Use of in year underspends for:
  • £30k to create a reserve to support communities in celebrating the Queen’s Jubilee
  • £200k to create a reserve for business support, advice and grants to support economic recovery
  • £200k to create a reserve targeting fly-tipping and environmental improvements
  • £200k to create a reserve to support the creation of Apprentice, Graduate, and Trainee posts across the council
  • £200 to create a reserve to support the community hub Boost Fund, to support them in making a real impact in the community
  • £200k to create a reserve to provide support for sports clubs & community organisations
    
    

4.    Approves the remaining forecast underspend of £392k to be allocated to a Covid reserve for future projects.

5.    Notes and supports the recommendations of the Scrutiny Budget and Performance Panel.