Decision details

Cllr Lynden Stowe, Deputy Leader and Cabinet Member for Finance and Change, provided an update on the year-end forecast for the 2022/23 County Council’s Revenue and Capital Budgets

Having considered all of the information, Cabinet noted the report and

RESOLVED to:

1.    Note the forecast revenue year end position based on December 2022 (Period 9) forecasts for the 2022/23 financial year, which is an overspend of £4.874 million all of which relates to non-Covid-19 expenditure. The Covid-19 related expenditure and income outturn is forecast to be a balanced position.

2.    Note delivery of the £6.772 million of savings against a target of £10.987 million in 2022/23 or 61.64% of target as detailed in Section B.

3.    Note the forecast capital year end position as at the end of November 2022, forecast made in December 2022 (P9) of £132.756 million against the current budget of £150.974 million.

4.    Approve the £1.209 million increase to the capital programme as detailed in Section C.