Decision details

Finance, Performance and Risk Monitoring Report 2022/23

Decision Maker: Cabinet

Decision status: Recommendations Approved

Is Key decision?: Yes

Is subject to call in?: Yes

Purpose:

To provide an update on the year-end forecast for the 2022/23 County Council’s Revenue and Capital Budgets

 

To report on the Council’s performance and risk during Quarter 3 of 2022/23

 

Decision:

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 3 of 2022/23

 

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

 

RESOLVED to:

 

1. Consider this report of the Council’s performance and risks and identifies any areas of concern requiring further analysis, assurance or action.

 

2. Note the forecast revenue year end position based on February 2023 (Period 11) forecasts for the 2022/23 financial year, which is an overspend of £3.835 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.

 

3. Note delivery of the £7.388 million of savings against a target of £10.987 million in 2022/23 or 67.24% of target as detailed in Section B.

 

4. Note the forecast capital year end position as at the end of January 2023, forecast made in February 2023 (P11) of £128.571 million against the current budget of £147.758 million.

 

5. Approve the £1.939 million increase to the capital programme as detailed in Section C.

Report author: Deputy Leader and Cabinet Member - Finance and Change, Leader of the Council

Publication date: 29/03/2023

Date of decision: 29/03/2023

Decided at meeting: 29/03/2023 - Cabinet

Effective from: 06/04/2023

Accompanying Documents: