Decision details

To consider the third quarter Revenue & Capital Monitoring forecast and to consider any specific recommendations on the application of resources in-year, including movements to and from reserves, as required by financial procedure rules.

RESOLVED –

1)      That with regards to the General Fund, the (i) forecast revenue outturn position at Quarter 3 (ii) forecast year end position on corporate reserves and balances at Quarter 3 and (iii) the regular monitoring and review of corporate services in 2021/2022 reported to Cabinet be noted.

2)      That the Collection Fund position as at Quarter 3 be noted.

3)      That the Quarter 3 Housing Revenue Account position and forecast year-end reserves position be noted.

4)      That with regards to Capital (i) the Quarter 3, the forecast capital monitoring position for 2021/2022 be noted (ii) approval be given to re-profiling of the capital plan across future years (appendix 6 refers) (iii) approval be given to the capital scheme amendments as noted in paragraphs 1.12.7 to 1.12.13 of the report (iv) that approval be given to offering HD1 Living Ltd an additional loan from the Property Investment Fund up to £2.5m to support the redevelopment of 103 New Street, Huddersfield, subject to due diligence being carried out (v) the Strategic Director (Growth and Regeneration), in consultation with the Cabinet Member (Corporate Services), having sought advice from the Service Director (Legal, Governance and Commissioning) and the Service Director (Finance) be authorised to carry out appropriate due diligence on the proposal to offer an additional loan from the Property Investment Fund and (vi) the Service Director (Legal, Governance and Commissioning) in consultation with the Service Director (Finance) be authorised to enter into any documentation required to agree the additional Property Investment Fund loan and to protect the Council’s position as lender.