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Decision details

Council Financial Performance - Quarter 3, 2022/23 - RES/23/049

Decision Maker: Finance and Resources Committee

Decision status: For Determination

Is Key decision?: No

Is subject to call in?: No


(i)       to note the cash position that has been achieved for the General Fund and HRA to the end of Quarter 3 as detailed in Appendix 1;

(ii)       to note the Common Good financial performance to the end of Quarter 3 as detailed in Appendix 3, specifically the £1.1m reduction in cash balances due to investment volatility;

(iii)      to note that the General Fund full year forecast position has moved positively since the Quarter 2 report was considered by the Committee as detailed in Appendix 2, and is now expected to show a deficit of £2.1m for 2022/23, and that the Chief Officer – Finance has instructed that budget holders act to delay, stop or reduce expenditure wherever possible to mitigate this deficit; and note that any remaining deficit will be mitigated from the use of earmarked reserves;

(iv)      to note that the HRA full year forecast position, as detailed in Appendix 2, is on target to achieve the approved budget;

(v)      to note that the Council relies on the Integration Joint Board (IJB) achieving a balanced budget, and that the IJB retains reserves to mitigate unplanned additional costs arising during the year;

(vi)      to note that the forecast for General Fund and Housing capital expenditure is that there will be lower spend than had been budgeted in 2022/23 as described in Appendix 2;

(vii)     to note that the Council has introduced new processes in respect of a recruitment freeze, and has recently promoted the Voluntary Severance/ Early Retirement scheme, these actions are designed to assist in the management of the pay bill both this year and going forward; and

(viii)    to request that the Chief Officer – Finance circulate further details in relation to the income figures for car parking charges to members of the Committee.

Publication date: 03/02/2023

Date of decision: 01/02/2023

Decided at meeting: 01/02/2023 - Finance and Resources Committee

Accompanying Documents: