Decision details

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Proposed by Councillor Pike, seconded by Councillor Satchwell, following debate it was RESOLVED that Cabinet noted and approved:

A      the outturn for the General Revenue Fund, subject to external audit, is an overspend of £0.311 million

B      transfers to the General Revenue Fund and Earmarked reserves, as set out in Table 3 – Earmarked Reserve Movements

C      A transfer of £5.237m from the s31 earmarked reserve to cover timing differences on the deficit on NNDR caused by Covid reliefs.

D      the position of the 2021/22 capital programme as at 31 March 2022.

E      the intention to create a specific ‘Waterlooville Regeneration Reserve’ to fund the revenue costs of feasibility and development work for progressing regeneration projects in Waterlooville to Outline Business Case stage. The specific amount and conditions of this reserve will be reported back to the next Cabinet meeting ; and

F      pending the said actions, the sum of £150,000 be immediately released from existing Regeneration revenue reserves to progress work on a strategic development plan for the regeneration of Waterlooville town centre, in accordance with the power granted to Cabinet in Standing Order 64.3.1 of the Budget and Policy Framework Standing Orders (Constitution Part 3 Section C).