Decision details

2021/22 Budget Targets and Finance Update

Decision Maker: Strategy and Resources Committee

Decision status: For Determination

Is Key decision?: No

Is subject to call in?: No


Following consideration, it was resolved that the Committee:

1.    Noted the recommendations of Financial Policy Panel held on 08 September 2020.

2.    Agreed the following overall budget targets for 2021/22:-

     i.        That estimates be prepared including the delivery of savings already identified in the Financial Plan for 2021/22 totalling £336,000.

    ii.        That estimates include options to reduce organisational costs by £1,290,000 subject to government grant announcement, in order to minimise the use of working balances and maintain a minimum working balance of £2.5 million in accordance with the medium term financial strategy.

  iii.        That at least £210,000 additional revenue is generated from an increase in discretionary fees and charges;

  iv.        That a provision for pay award is made of £408,000 that would allow for a 2% cost of living increase;

    v.        That a £950,000 contingency is provided for within the 2021/22 budget to mitigate the potential impact of Covid-19 on the Council’s finances in 2021/22.

  vi.        That officers are tasked in delivering a list of costed options that can be implemented to address any budget shortfall for 2021/22.

3.    Agreed the budget reporting timetable as set out in section 10 of the report to Financial Policy Panel (Appendix 2).

4.    Agreed that 2020/21’s projected deficit be funded as set-out at paragraph 6.7 of the report to Financial Policy Panel (Appendix 2).


Report author: Brendan Bradley

Publication date: 25/09/2020

Date of decision: 22/09/2020

Decided at meeting: 22/09/2020 - Strategy and Resources Committee

Accompanying Documents: