Issue - meetings

2022/23 Final Revenue and Capital Outturn Report

Purpose

This report sets out the outturn position for the 2023/24 financial year.

Recommendations

That Cabinet resolves to:

1) Reviews and notes the financial position set out in this report.

2) Approve the carry forward of unspent capital budget included in table 5 of £1.114m into the 2023/24 Capital Programme.

Additional documents:

Minutes:

The purpose of the report was to set out the outturn position for the 2022/23 financial year.

The reported outturn of an adverse variance of £1.274m against budget is in line with forecast outturn position reported at Q3 of £1.220m.

The Deputy Leader highlighted that the previous budget was before the inflationary pressures resulting from the war in Ukraine. Therefore, the expenditure on pay settlements was £0.3m higher than budgeted on Publica staff, and £0.5m higher on Ubico staff. The Deputy Leader also highlighted pressures due to fuel, electricity and gas costs increasing, although noted that more treasury management income than expected had been generated from interest rates increasing.

The Deputy Chief Executive highlighted Annex B of the report, and the transfer from the general fund, which highlighted the difference between the Medium Term Financial Strategy and the revised budget.

RESOLVED: That Cabinet

1) NOTE the financial position set out in this report.

2) Approve the carry forward of unspent capital budget included in table 5 of £1.114m into the 2023/24 Capital Programme.

Record of Voting – For: 8, Against 0, Abstention 0, Absent: 0

For	Against	Absent	Abstentions
Claire Bloomer
Joe Harris
Juliet Layton
Lisa Spivey
Mike Evemy
Mike McKeown
Paul Hodgkinson
Tony Dale

Issue - meetings

2022/23 Final Revenue and Capital Outturn Report

Meeting: 17/07/2023 - Cabinet (Item 149)

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