Issue - meetings

Report of the Executive Director of Corporate Resources and Customer Services

Further to Minute No. 47 of the meeting of the Cabinet held on 27 July 2023, the Council considered the report of the Executive Director of Corporate Resources and Customer Services on the revenue and capital outturn position in relation to the 2022/23 financial year. The report outlined key variations and, where appropriate, any impact on future years’ financial performance. In addition, the report provided details of the Council’s Corporate Performance for 2022/23 and current corporate risks.

It was moved by Councillor Lappin, seconded by Councillor Fairclough and

RESOLVED:

Revenue Outturn

That the addition and utilisation of the Earmarked Reserves, as detailed in paragraph 6.4.(a), (c) and (d) in the report, be approved.

Report of the Executive Director of Corporate Resources and Customer Services

The Cabinet considered the report of the Executive Director of Corporate Resources and Customer Services on the revenue and capital outturn position in relation to the 2022/23 financial year. The report outlined key variations and, where appropriate, any impact on future years’ financial performance. In addition, the report provided details of the Council’s Corporate Performance for 2022/23 and current corporate risks.

Decision(s) Made:

That

Revenue Outturn

(1)      the General Fund net deficit of £2.808m for 2022/23 that will reduce the Council’s General Balances by £5.700m more than was budgeted for, but in line with the decisions of the Cabinet during the year to partially fund the pressures faced during the year, be noted;

(2)      the decrease in Schools’ balances of £0.296m for 2022/23 and the net reduction of non-schools centrally retained Dedicated Schools Grant (DSG) balances of £5.962m, be noted;

(3)      the overall deficit on the High Needs Budget of £18.666m, be noted;

(4)      the changes to Earmarked Reserves in 2022/23 be noted;

(5)      the Council be requested to approve the addition and utilisation of the Earmarked Reserves, as detailed in paragraph 6.4.(a), (c) and (d) in the report;

Capital Outturn

(6)      the total capital outturn of £35.941m for the financial year 2022/23 be noted;

(7)      the successful delivery of a number of schemes, as set out in section 11 of the report, that have supported the delivery of the Council’s core purpose, be noted;

Corporate Performance

(8)      the Council’s Corporate Performance Report for 2022/23 and the latest Corporate Risk Register alongside the financial outturn for the year be considered and noted; and

the Council is recommended to:

Revenue Outturn

(9)      approve the addition and utilisation of the Earmarked Reserves detailed in paragraph 6.4.(a), (c) and (d).

Reasons for the Decision:

The production of a revenue and capital outturn report was a key feature of effective financial management and would allow Members to make informed decisions that would support service delivery and medium-term financial sustainability.

This report should be read in conjunction with the Treasury Management Outturn report for 2022/23 that also appeared on the agenda.

Alternative Options Considered and Rejected:

Not Applicable.