Agenda item

Report of the Cabinet Member for Finance and Assets, Councillor Peter Jeffries

The Cabinet Member for Finance and Assets said he would present the report more fully to Council on 24 July, but noted that increasing interest rates and inflation had resulted in quite a few variances and pressure on budgets in some areas.   Appendix 6 sets out a budgetary position of £101k overspend, drawing on reserves, which is not the best position to be in but is at least stable.  He said he and the finance team would be working hard to correct this for next year.

RESOLVED THAT:

1.    Council receive the financial outturn performance position for the General Fund, and notes that in delivering services in 2022/23, after the application of carry forward requests and following the use earmarked reserves, there was an overspend of £101,294 against the 2022/23 revised budget approved by Council on 20 February 2023;

2.    £859,147 of carry forward approved by the Section 151 Officer under delegated powers at Appendix 5 is noted, and £72,000 of carry forward requests which require Member approval is approved;

3.    the annual treasury management report at Appendix 7 and the actual 2022/23 prudential and treasury indicators are noted;

4.    the capital programme outturn position as detailed in Section 7 of this report  and Appendix 8 is noted, and the carry forward of unspent budgets into 2022/23 and the inclusion of two new projects in the 2023/24 capital programme with no additional funding commitment required from the Council is approved;

5.    the year end position in respect of Section 106 agreements and partnership funding agreements at Appendix 9 is noted;

6.    the outturn position in respect of collection rates for council tax and non-domestic rates for 2022/23 in Appendix 10 is noted;

7.    the financial outturn performance position for the Housing Revenue Account for 2022/23 in Appendix 11 is received, and the carry forward of capital budgets from 2022/23 into 2023/24 as set out in Appendix 12 is approved.