This report presented the results of the first round of the Council’s revenue budget monitoring process for 2021/2022. The report set out that at its meeting on 18 February 2021, Full Council had set a total budget requirement of £351.862million for 2021/2022. Since approval of the budget, additional grant funding relating to the Covid-19 pandemic had been received, primarily to deliver the Restart Grants scheme to support Medway’s businesses. These additions had taken the Round 1 budget requirement to a total of £361.995million. The forecast outturn for 2021/2022 currently represented a pressure of £8.457 million.
The Cabinet noted the results of the first round of revenue budget monitoring for 2021/2022.
Cabinet has the responsibility to ensure effective budgetary control to contain expenditure within the approved limits set by Council.