Agenda item

To consider the report by the Cabinet Member for Finance and Change on the Revenue and Capital Outturn for 2022/23.

General Fund – Revenue

It is recommended that Cabinet:

i)  Notes the General Fund revenue outturn for 2022/23 is a balanced position after a transfer of £11.38M from reserves to meet the year-end deficit, as outlined in paragraph 4 and in paragraph 2 of Appendix 1. 

ii)  Notes the performance of individual portfolios in managing their budgets as set out in paragraphs 3 to 7 of Appendix 1 and Annex 1.1.

iii)  Recommends Council to approve the requests to carry forward un-ringfenced grant funding totalling £0.16M as outlined in paragraph 8 of Appendix 1.

iv)  Recommends Council to note the performance of the Property Investment Fund (PIF) as detailed in paragraphs 9 to 11 of Appendix 1 and Annex 1.2.

v)  Notes that the level of General Fund balances at 31 March 2023 was £10.07M and the level of earmarked reserves (including schools’ balances) was £55.05M as detailed in paragraph 18 to 21 of Appendix 1 and Annex 1.3.

vi)  Notes the accounts for the Collection Fund in 2022/23 detailed in paragraphs 23 to 29 of Appendix 1 and Annex 1.5.

Housing Revenue Account

It is recommended that Cabinet:

vii)  Notes the HRA revenue outturn for 2022/23 as outlined in paragraph 7 and paragraph 22 of Appendix 1 and Annex 1.4.

Capital Programme

It is recommended that Cabinet:

viii)  Notes the actual capital spending in 2022/23 for the General Fund was £62.94M and for the HRA was £35.88M, as outlined in paragraphs 10 and 11 below and detailed in paragraphs 2 to 5 of Appendix 2.

ix)  Notes the capital financing in 2022/23 as shown in table 3 of Appendix 2.

x)  Recommends Council to approve the revised capital programme for 2022/23 to 2027/28 and its financing as summarised in paragraph 10 of Appendix 2 and detailed in Annex 2.2.

xi)  Notes the latest prudential indicators for the revised capital programme as detailed in Annex 2.3.

DECISION MADE: (CAB 23/24 37675)

On consideration of the Cabinet Member for Finance and Change, Cabinet agreed the following:

General Fund – Revenue

It is recommended that Cabinet:

i)  Notes the General Fund revenue outturn for 2022/23 is a balanced position  after a transfer of £11.38M from reserves to meet the year-end deficit, as outlined in paragraph 4 and in paragraph 2 of Appendix 1.

ii)  Notes the performance of individual portfolios in managing their budgets as set out in paragraphs 3 to 7 of Appendix 1 and Annex 1.1.

iii)  Recommends Council to approve the requests to carry forward un-ringfenced grant funding totalling £0.16M as outlined in paragraph 8 of Appendix 1.

iv)  Recommends Council to note the performance of the Property Investment Fund (PIF) as detailed in paragraphs 9 to 11 of Appendix 1 and Annex 1.2.

v)  Notes that the level of General Fund balances at 31 March 2023 was £10.07M and the level of earmarked reserves (including schools’ balances) was £55.05M as detailed in paragraph 18 to 21 of Appendix 1 and Annex 1.3.

vi)  Notes the accounts for the Collection Fund in 2022/23 detailed in paragraphs 23 to 29 of Appendix 1 and Annex 1.5.

Housing Revenue Account

It is recommended that Cabinet:

vii)  Notes the HRA revenue outturn for 2022/23 as outlined in paragraph 7 and paragraph 22 of Appendix 1 and Annex 1.4.

Capital Programme

It is recommended that Cabinet:

viii)  Notes the actual capital spending in 2022/23 for the General Fund was £62.94M and for the HRA was £35.88M, as outlined in paragraphs 10 and 11 below and detailed in paragraphs 2 to 5 of Appendix 2.

ix)  Notes the capital financing in 2022/23 as shown in table 3 of Appendix 2.

x)  Recommends Council to approve the revised capital programme for 2022/23 to 2027/28 and its financing as summarised in paragraph 10 of Appendix 2 and detailed in Annex 2.2.

xi)  Notes the latest prudential indicators for the revised capital programme as detailed in Annex 2.3.