Agenda item

This report shows the outturn position for the financial year ending on 31 March 2021 for both revenue and capital and makes the following recommendations:-

·                to carry forward to 2021/22 certain unspent revenue budgets and;

·                to rephase those capital budgets that require completion in 2021/22

A key feature of reporting the outturn for the financial year is to compare it against the latest agreed budget which provides an indication of the accuracy and robustness of financial control and the achievement of the strategic objective to manage resources to deliver the Council’s strategic priorities and service needs.

This report shows the outturn position for the financial year ending on 31 March 2021 for both revenue and capital and makes the following recommendations:-

•           to carry forward to 2021/22 certain unspent revenue budgets and;

•           to rephase those capital budgets that require completion in 2021/22

A key feature of reporting the outturn for the financial year is to compare it against the latest agreed budget which provides an indication of the accuracy and robustness of financial control and the achievement of the strategic objective to manage resources to deliver the Council’s strategic priorities and service needs.

The Director of Finance advised on the carried forward requests there was a net underspend of £581k but after carried forward requests there was a net underspend of £133k.  There was increased expenditure shown for investment properties in the revenue budget which related to acquisitions or potential acquisitions which haven’t yet happened which we would be able to capitalise on this year or in following years but we need to charge them to revenue until they happen.  We are carrying forward some money from the capital programme to reflect the other side of those.

A Member had submitted the following questions in advance of the meeting and answers were provided as detailed below:

What was the increased spend on investment properties of £410,000 for?

Response: These are items for which we have budget within the capital programme under the PIB heading, however due to rules around charging expenditure to capital in local government we are not allowed to charge this expenditure to the capital programme until the acquisition of the asset is completed. We, therefore, need to charge these costs to revenue in 2020/21 but can capitalise them in 2021/22, increasing our Revenue Balances by the same amount.  The Director of Finance advised that there were two parts to the additional retentions monies.  We retained more of the total cost than we would otherwise have done. The £410k was around investment properties work which we are not able to capitalise on until they have been finalised and are going forward.  It was a mixture of two things where we have made an acquisition which has not gone through to Council and one around future acquisitions.

What were the extra legal costs of £18,000 for a consultant for?

Response: £11.2k Legal Advice – Counsel Fees relating to Long Pightle Mobile Home Park with regards to the public enquiry due to the refused certificate of lawfulness. An additional £7k for the essential purchase of publications where 2 invoices were in dispute from 2018 and 2019.

Can you explain the increase of £91,825 retention monies for temp accommodation in Rickmansworth?

Response: Due to the delays in completing the Bury additional retention monies were held back from the contractor to allow discussions about the final payment to be completed.

Why has there been a reduced spend in grounds maintenance?

Reduced spend relates to less overtime and reduced repairs and maintenance on the newer vehicles recently purchased.

Could you give more details on the Wildwood Den in Rickmansworth the cost and where it will go?

Response: These were first discussed at Leisure Committee in March 2019. The Wildwood Den relates to Rickmansworth Aquadrome.

Sustainable Travel Schemes £26,160 what has been procured?

Response: The Local Walking and Cycling Strategy has been procured.  This work is underway.  Every Member has been consulted (March) on the Strategy and any further comments are welcomed.

What area will be looked at for the investigations of local permit workers schemes at a cost of £13,200?

Response: The monies are intended to complete the business permit review agreed by the IHED Committee in August 2019 including increase in parking spaces in Rickmansworth CPZ, work is ongoing.  It would be clarified if it was with regard to Rickmansworth west or Rickmansworth town.

Post meeting note: The investigation of a local workers permits scheme in Rickmansworth was agreed for sites in Zone C and Zone A, with investigations continuing in other Zones.  These are concentrated in the Rickmansworth Town Ward but extend into the Penn and Mill End Ward.  The Rickmansworth West scheme is how Officers refer to another proposed parking scheme which is currently awaiting a detailed design and further consultation.

A Member said the report talked about an increase in retention monies of £91k it was not an increase it was just a re-phasing of that money. 

On being put to the Committee the recommendations were declared carried by the Chair of the Committee the voting being 9 for, 0 against and 4 abstentions.

RECOMMEND:

That the favourable revenue outturn variance after carry forwards of (£133,489) to be noted.

That the capital outturn as summarised in paragraph 2.6 and Appendix 3 be noted.

Approved to carry forward: the unspent service budgets from 2020/21 to 2021/22 which total £447,830 to enable completion of projects as detailed at Appendix 2.

Approved the rephasing on capital projects from 2020/21 to 2021/22 which total £1,364,813 as detailed at Appendix 4.