Decision Maker: Cabinet
Decision status: Recommendations Approved
Is Key decision?: Yes
Is subject to call in?: Yes
To provide an update on the revenue and capital expenditure outturn 2022/23.
To report on the Council’s performance and risk during Quarter 4 of 2022/23
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 and reported on the Council’s performance and risk during Quarter 4 of 2022/23.
Having considered all of the information, Cabinet noted the report and
1. Note the 2022/2023 revenue budget underspend of £910k and recommends that £910k is transferred to General Reserves.
2. Approve the £1.748 million carry forward of the Covid 19 Emergency Grant funding and a further £405k of carry forwards, as detailed in annex 1.
3. Note other technical reserve movements for 2022/23 as set out in annex 3.
4. Note delivery of the £9.342 million of savings against a target of £10.987 million in 2022/23 or 85.03%
5. Transfer £568k to the Business Rates Reserve in relation to the GCC share of the surplus on the Business Rates Retention Pool. In addition, approve a transfer of £710k to the Business Rates Reserve, ring fenced for the Strategic Economic Development Fund as a result of the Business Rates Pool surplus for 22/23.
6. Transfer £4.92 million to the Business Rates Reserve following reconciliation and distribution of the DLUHC Levy Account from 2021/22.
7. Note the capital outturn position for 2022/23 of £122.771 million against a budget of £149.279 million, giving in year slippage of £26.508 million.
8. Approve an increase of £41.638 million in the Capital Programme and reallocation of capital funds as detailed in section G of the report.
9. It is recommended that the cabinet approve a drawing of £795k from the general reserves in 2023/24 to support a reduction in the SEND backlog and case loads
10.Consider this report of the Council’s performance and risks and identifies any areas of concern requiring further analysis, assurance or action.
Report author: Deputy Leader and Cabinet Member - Finance and Change, Leader of the Council
Publication date: 21/06/2023
Date of decision: 21/06/2023
Decided at meeting: 21/06/2023 - Cabinet
Effective from: 29/06/2023