Decision details

(i)       note the positive cash position that has been achieved for the General Fund and HRA to the end of Quarter 2 as detailed in Appendix 1;

(ii)       note the Common Good financial performance to the end of Quarter 2 as detailed in Appendix 3;

(iii)      note that the General Fund full year forecast position, as detailed in Appendix 2, has improved compared to the forecast at Quarter 1 and it is still expected to show a balanced position overall for 2021/22 through the mitigations contained within the report;

(iv)      note that the HRA full year forecast position, as detailed in Appendix 2, is on target to achieve the approved budget, making a contribution to HRA reserves for 2021/22;

(v)      note that the forecast for General Fund capital expenditure is that there will lower spend than has been profiled for 2021/22, and for Housing capital expenditure this will be on budget, as described in Appendix 2;

(vi)      note the construction inflation pressures being experienced across the capital programmes and instruct the Chief Officer – Finance to recommend a risk fund/contingency be included in the refreshed capital programmes which will be presented to the Council’s budget meeting on 7 March 2022;

(vii)     note the current permission from Scottish Government to use capital receipts for voluntary severance/early retirement revenue costs ends on 31 March 2022;

(viii)    note that unless extended, alternative revenue funding would have to be found or changes made to the scheme; and

(ix)      agree to instruct the Chief Executive to write to the Cabinet Secretary for Finance and the Economy requesting an extension to the current permission as noted at Section 6 (Financial Risks) engaging COSLA as appropriate and agree that the matter be referred to the budget process for consideration.