Issue - meetings

The Director of Resources submitted a report for information on the overall revenue outturn for the year ending 31 March 2022.

There had been a final outturn of a surplus of £426,993 rather than the £198k surplus forecast at the revised estimate.

There had also been £483k more (revenue only) added to earmarked reserves than forecast at revised estimate, which was largely due to the accounting treatment required for grants received but yet to be spent. There was also a large movement in earmarked reserves due to the setting aside of funding for the Local Plan (£270k).

The large movements in the earmarked reserves in respect of Covid were expected to be held in the short term, particularly the £1.641m in respect of the Business Rates S31 funding which would offset the collection fund deficit in 2022/23.