Decision details

To receive an update on the financial position for 2021/22 and to note or approve virements and supplementary estimates as required.

Consideration was given to a report setting out the financial year review for 2021/22.

Concerns were raised in respect of the rise in energy costs, the knock-on effect these would have, and whether there was likely to be any government mitigation for this. Assurances were given that conversations were ongoing with energy providers to secure the best outcomes possible for the Council.

Clarification was sought in respect of the projects related to Crewe Town Board, specifically where funding was coming from and where it would be spent. Confirmation was given that the Capital Strategy detailed within the report included projects financed from Future High Streets funding, and that projects to be financed by the Towns Fund initiative would be incorporated when business cases have been further developed. An all-committee Member briefing would be held in respect of the Crewe Regeneration and Towns Fund projects, further to information on the development of the business cases.

RESOLVED (unanimously):

1.    That the report of the Finance Sub-Committee (Agenda for Finance Sub-Committee on Wednesday, 1st December, 2021, 2.00 pm | Cheshire East Council), specifically the recommendations of that committee be noted.

2.    That the financial update and forecast outturn relevant to the committee’s terms of reference be noted.

3.    That it be noted that officers would seek to improve outcomes and the financial outturn across all Committees to mitigate the overall forecast overspend of the Council.

4.    That appendix 6 of the report and the following sections specific to this Committee be noted:

·         Changes to Revenue budget 2021/22

·         Policy Proposals Update

·         Corporate Grants Register

·         Debt Management

·         Capital Strategy

·         Reserve Strategy