Issue - meetings

Financial Outlook 2022/23

 

 

Meeting: 28/09/2021 - Cabinet (Item 4)

4 Financial Outlook 2022/23 pdf icon PDF 640 KB

Additional documents:

Minutes:

Background:

 

This report set out the initial assumptions underpinning the financial pressures projected by the Council’s services alongside projections of the Council’s income streams insofar as they impact the 2022/23 budget.

 

The report provided details of the resource projections and the impact of the one-off covid-19 related grant received for 2021/22.

 

The report stated that the Council faced a potential budget gap of £33.010 million in 2022/23.  Officers would continue to seek to address this through examining activity data, challenging current costs and reassessing the trends projected. Officers and Portfolio Holders were also working to develop an urgent package of solutions to mitigate the financial pressures projected in the report and were continuing to lobby the government for a local government finance settlement that reflected the growing burdens in social care.

  

Decision number:

Decision:

 

The Cabinet noted the forecast level of budget pressures and funding for 2022/23 and the projected budget deficit identified.

99/2021

The Cabinet agreed to bring forward proposals, through the financial planning process, to address the projected budget deficit.

 

Reasons:

 

This report is important in providing the framework underpinning the budget setting process for 2022/23.