Decision details

To note the forecast revenue outturn position for 2022-23, including treasury management

It was not possible to circulate the report five clear days in advance of the meeting. The chair agreed to accept as urgent as the council were required to note the outturn revenue position on the general fund and housing revenue account in June in order to provide necessary context to the budget setting process for 2024-25, which will commence formally in July 2023.

Additionally, an addendum report was circulated and published and contained a correction to Table 2: HRA Outturn 2022-23.

RESOLVED:

1.  That the balanced general fund outturn position for 2022-23 after movements in reserves and application of planned contingency funds be noted.

2.  That the key adverse variations and budget pressures underlying the outturn position be noted:

(i)  The  adverse variance of £2m on the DSG budget, bringing the accumulated deficit to £14.5m (net of Safety Valve funding received from Government)

(ii)  Pay, energy and contractual inflation across all departments (mitigated through use of contingency and reserves)

(iii)  The continuing budget pressures on temporary accommodation.

3.  That the utilisation of £4m contingencyto offset adverse variances be noted.

4.  That the housing revenue account outturn for 2022-23(Table 2 paragraphs 79-91of the report) which is balanced following a £6.7m draw-down from reserves be noted.

5.  That the movements and balances of general fund earmarked reserves as set out in paragraphs 97-106 and Appendix B of the report be noted.

6.  That the interdepartmental budget movements that exceed £250k as shown in Appendix A of the report be approved.

7.  That the interdepartmental general fund budget movements that are less than £250k as shown in Appendix A of the report be noted.