Agenda item

(1)

the current position relating to the 2022/23 revenue budget;

(2)

the current forecast on Council Tax and Business Rates collection for 2022/23; and

(3)

the monitoring position of the Council’s capital programme to the end of June 2023 in respect of:

•                The forecast expenditure to year end

•                Variations against the approved budgets and an explanation of those variations for consideration by Members.

•                Updates to spending profiles and proposed amendments to capital budgets necessary to ensure the efficient delivery of capital projects are also presented for approval.

That in respect of the Revenue Budget:

(1)

the current position relating to the 2022/23 revenue budget be noted;

(2)

the financial risks associated with the delivery of the 2022/23 revenue budget be recognised and it be acknowledged that the forecast outturn position will continue to be reviewed, and remedial actions put in place, to ensure a balanced forecast outturn position and financial sustainability can be achieved; and that the remedial actions required to address this financial forecast will be reported to Cabinet in September 2022;

(3)

the creation of the post ‘Assistant Director - Help and Protection’ within Children’s Services with the post being funded via the deletion of vacant posts to the value required be approved; and that the appointment to this follow the Council’s normal process for jobs of this grade;

(4)

that due to the potential changes to the treatment of high needs balances / deficits it be agreed that the financial position be reported as part of each monthly budget monitoring report during the year; and

(5)

the reporting cycle for the Council’s Wholly Owned Companies be approved.

That in respect of the Capital Programme:

(6)

the spending profiles across financial years for the approved capital programme (paragraph 7.1) be noted;

(7)

the latest capital expenditure position as at 30 June 2022 of £5.198m (paragraph 7.4); and the latest full year forecast is £42.426m (paragraph 7.6) be noted;

(8)

it be noted that capital resources will be managed by the Executive Director of Corporate Resources and Customer Services to ensure the capital programme remains fully funded and that capital funding arrangements secure the maximum financial benefit to the Council (paragraph 7.9);

(9)

Council be recommended to approve a supplementary capital estimate of £0.700m for Phase 1 of the Strand Repurposing project funded from the Economic Recovery Earmarked Reserve; and

(10)

Council be recommended to approve a supplementary capital estimate of £0.171m for the completion of the Crosby Lakeside Adventure Centre improvements, funded from the Economic Recovery Earmarked Reserve.