Agenda and minutes

Finance Sub Committee - Tuesday, 8th February, 2022 6.00 pm

Venue: Chamber - Quadrant, The Silverlink North, Cobalt Business Park, North Tyneside, NE27 0BY. View directions

Items
No. Item

F24/21

Appointment of Substitute Members

To be notified of the appointment of any Substitute Members.

Minutes:

Pursuant to the Council’s constitution the appointment of the following substitute Member was reported: - Councillor L Bones for Councillor J Wallace.

F25/21

Declarations of Interest

You are invited to declare any registerable and/or non-registerable interests in matters appearing on the agenda, and the nature of that interest.

 

You are also invited to disclose any dispensation in relation to any registerable interests that have been granted to you in respect of any matters appearing on the agenda.

 

You are also requested to complete the Declarations of Interests card available at the meeting and return it to the Democratic Services Officer before leaving the meeting.

 

 

Minutes:

There were no Declarations of Interest reported.

F26/21

Minutes pdf icon PDF 122 KB

To confirm the minutes of the meeting held on 30 November 2021.

Minutes:

Resolved that the minutes of the meeting 30 November 2021 be confirmed.

F27/21

2021/22 Financial Management Report to 30 November 2021 pdf icon PDF 81 KB

To receive the Financial Management report for the current financial year that reflected the financial position as at 30 November 2021.

Additional documents:

Minutes:

The Director of Resources presented the fourth monitoring report on the 2021/22 financial position and the financial and performance information that explained the current financial position in the context of the policy priorities in the Our North Tyneside Plan.

 

It provided the latest indication of the potential revenue and capital position of the Authority for 31 March 2022.

 

The on-going Covid-19 pandemic was forecast to continue to have a potential financial impact on the Authority during 2021/22.

 

The projected outturn position as at 30 November 2021 was estimated at £5.247m against the approved budget. This comprised of £1.306m on normal activities and £3.941m related to the impact of Covid-19.

 

The Authority had received £40.417m grant funding available in 2021/22 that supported residents, businesses, schools and care homes at the end of November 2021, which of this £20.796m had been allocated with the remaining balance fully committed.

 

A number of questions were raised and responded to by officers present and the following were aspects that further information was requested:

 

·       The use of the UNITAS Grant to Autumn Arts College

·       Understanding of the variance since reporting in September 2021 in relation to Environment, Housing and Leisure – Head of Service and Resilience.

·       Confirmation that investment funding provided by the Department and Transport for the use for potholes repair would be used within the current year.

·       A Member raised that in relation to Schools Finance High Need Block, a greater understanding in this area would benefit the committee and requested an item be placed on the agenda for the next meeting of the Committee.

 

Agreed (1) that the 2021/22 Financial Management Report to 30 November 2021 be noted; (2) the information requested throughout the meeting be provided and (3) an Item be placed on the agenda of the next meeting in relation to the High Needs Block.