Issue - meetings

(i)       to note the positive cash position that has been achieved for the General Fund and HRA to the end of Quarter 3 as detailed in Appendix 1;

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

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

(iv)      to instruct the Chief Officer – Finance, in consultation with the Chief Officer – Operations and Protective Services, to quantify and immediately set aside a sum from the General Fund Contingency budget, for the Council to deal with the storm damage caused by Storms Arwen, Malik and Corrie, and instruct the Chief Officer – Finance to (a) at the financial year end, to earmark in the General Fund Reserve any unused portion of that sum to enable the work to continue next financial year; and (b) pursue any Scottish Government or external funding that may become available to assist Local Authorities with the additional pressures brought on them by the storms;

(v)      to 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;

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

(vii)     to note that the council and the IJB continues to rely on Ministerial commitment to fund all of the identified mobilisation costs.

The Committee had before it a report by the Director of Resources which provided the financial position of the Council as at Quarter 3 (31 December 2021) and the full year forecast position for the financial year 2021/22, including:-

·            General Fund and Housing Revenue Account (HRA) and capital accounts; and associated Balance Sheet; and

·            Common Good revenue account and Balance Sheet.

The report recommended:-

that the Committee –

(a)      note the positive cash position that has been achieved for the General Fund and HRA to the end of Quarter 3 as detailed in Appendix 1;

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

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

(d)      instruct the Chief Officer – Finance, where possible, to include in the Annual Accounts and Quarter 4 report a suitable sum from any unused contingency budget to fund additional works in 2022/23 that are still required following Storm Arwen;

(e)      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;

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

(g)      note that the council and the IJB continues to rely on Ministerial commitment to fund all of the identified mobilisation costs.

The Committee resolved:-

(i)       to approve recommendations (a), (b), (c), (e), (f) and (g); and

(ii)       to instruct the Chief Officer – Finance, in consultation with the Chief Officer – Operations and Protective Services, to quantify and immediately set aside a sum from the General Fund Contingency budget, for the Council to deal with the storm damage caused by Storms Arwen, Malik and Corrie, and instruct the Chief Officer – Finance to (1) at the financial year end, to earmark in the General Fund Reserve any unused portion of that sum to enable the work to continue next financial year; and (2) pursue any Scottish Government or external funding that may become available to assist Local Authorities with the additional pressures brought on them by the storms.