Agenda item

AGREED that:

a)      the final outturn of revenue and capital spending for 2022/23 be noted;

b)      the variation to the capital programme, as set out in paragraph 1.15 be approved;

c)      the capital financing proposals as set out in paragraph 1.16 be approved;

d)      Programme reprofiling of £28.643m carried forward into 2023/24 as per appendices E and F;

e)      the movement in Provisions and Impaired Estimates on Debtors be noted;

f)       the creations of the new reserves, as outlined in paragraph 1.26, be approved; and

g)    the individual contributions to, and withdrawals from, the revenue and capital Usable Reserves be noted.

The Leader and Portfolio Holder for Strategy, Performance & Finance presented the provisional financial outturn report to 31 March 2023. The report provided a summary of actual income and expenditure compared to the revised budget and how any surpluses or deficits had been allocated to or from reserves. The report included details of the General Fund, Housing Revenue Account (HRA), Capital Programme, provisional and impaired estimated on debtors, usable reserves and the collection fund.

The accounts showed a favourable variance of £0.746m on service budgets with a total additional transfer to usable reserves of £0.565m.  The statutory general fund had not varied during the year remaining at £1.500m in accordance with the Medium Term Financial Plan. The financial outturn position for the HRA was a deficit of £0.284. The Cabinet welcomed the report and the strong financial position of the Council.

AGREED (unanimously) that:

a)      the final outturn of revenue and capital spending for 2022/23 be noted;

b)      the variation to the Capital Programme, as set out in paragraph 1.15 be approved;

c)      the capital financing proposals as set out in paragraph 1.16 be approved;

d)      the Capital Programme reprofiling of £28.643m carried forward into 2023/24 as per appendices E and F be noted

e)      the movement in Provisions and Impaired Estimates on Debtors be noted;

f)       the creations of the new reserves, as outlined in paragraph 1.26, be approved; and

g)      the individual contributions to, and withdrawals from, the revenue and capital Usable Reserves be noted.

Reasons for Decision

To consider the provisional 2022/23 financial outturn position on the Council’s revenue and capital budgets.

Options considered:

Not applicable.