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The Treasurer presented Members with a view of the out-turn position on the revenue and capital budget for 2021/22. It was explained that this was an interim view, in advance of the Provisional Financial Out-turn report to the Fire Authority in June.
The Treasurer highlighted three areas where the revenue budget had been adjusted to £35.275m:
- Allocation of funds from Fire Control reserve;
- Tax income guarantee grant; and
- Funding budgets.
[Cllr L Robinson entered the meeting at 10.38am].
With regard to Treasury management, the Treasurer confirmed that there had been no additional borrowing due to the Authority currently holding significant earmarked revenue reserves and capital receipts from the sale of the old HQ building in 2020/21 and the recent disposal of surplus assets in Bromsgrove, Bewdley and Stourport.
[Cllr K Hey entered the meeting at 10.40am].
A Member queried the underspend on Prevention following the requirement to carry out inspections by the HMICFRS. The Chief Fire Officer explained that this was due to the Service already holding a significant stock of smoke alarms which haven't been able to be restocked due to Covid. Members were assured that this underspend was for the procurement of the smoke alarms only.
The Chairman suggested that narrative be included in the June Fire Authority report recommending the underspend be added to the budget.
RESOLVED that the Committee:
i) approves the revised core revenue budget at £35.276m;
ii) notes the net revenue and capital out-turn projections are still subject to change; and
iii) approves the principle that the additional rates grant is earmarked for the major building schemes.