Decision details

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

Cllr Lynden Stowe 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 July 2022 (Period

4) forecasts for the 2022/23 financial year, which is an overspend of £7.029

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 £5.283 million of savings against a target of £10.987

million in 2022/23 or 48.08% of target.

3. Note  the final revised Reserves Position for 2021/22 as detailed in

Annex 1 following amendments to the Business Rate grant funding and

reported pool surpluses for 2021/22.

4. Note the forecast capital year end position as at the end of June 2022,

forecast made in July 2022 (P4) of £161.050 million against the current

budget of £163.659 million.

5. Note a virement of £600k within the Landslip programme, from the

Badgeworth Road (Reddings Bridge) Slip project to the A435 Charlton Hill

phase 2 project.

6. Approve the £734k increase to the capital programme as detailed in

Section C.