Decision details

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

RESOLVED to:

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.