Issue - meetings
Revenue Budget Monitoring 2021/2022 - Round 3
Meeting: 08/03/2022 - Cabinet (Item 7)
7 Revenue Budget Monitoring 2021/2022 - Round 3 
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Minutes:
Background:
This report presented the results of the third 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 3 budget requirement to a total of £373.427million. The forecast outturn for 2021/2022 currently represented an underspend of £2.201million, a significant improvement of £10.696million compared to the position reported at Round 2.
The report also requested that the Cabinet agree the write-off of debts in relation to some tenants of the Pentagon Centre, Chatham. Details of these debts, which totalled £179,134.46, were set out in an exempt appendix to the report.
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Decision number: |
Decision: |
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The Cabinet noted the results of the third round of revenue budget monitoring for 2021/22.
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41/2022 |
The Cabinet approved the debt write off in respect of the Pentagon Centre of £179,134.46 against the Council’s sundry debt provision, as set out in Section 9 of the report and detailed at Exempt Appendix 1. |
Reasons:
The Cabinet has the responsibility to ensure effective budgetary control to contain expenditure within the approved limits set by Council.
The Cabinet has responsibility for agreeing debt write offs where these exceed the limits of delegated authority set out in the Council’s Constitution.