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
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.