Issue - meetings

Revenue Budget Monitoring Round 2 - 2022/23

 

 

Meeting: 15/11/2022 - Cabinet (Item 4)

4 Revenue Budget Monitoring - Round 2 2022/23 pdf icon PDF 289 KB

Minutes:

Background:

 

The Cabinetaccepted the report as urgent to enable consideration of the matter at the earliest opportunity, including the proposed action set out in the recommendation at paragraph 13.1 of the report.

 

The report presented the results of the second round of the Council’s revenue budget monitoring process for 2022/23. The report set out that atits meeting on 24 February 2022, Full Council had set a total budget requirement of £351.982million for 2022/23. Since approval of the budget, additional grant funding, primarily relating to Council Tax Support for energy bills, had been received. These additions had taken the Round 2 budget requirement to a total of £372.602million.

 

The forecast outturn for 2022/23 at Round 2 represented a pressure of £14.019million, a worsening of £1.453million compared to the position reported at Round 1.

 

Decision

number:

 

Decision:

 

 

The Cabinet noted the results of the second round of revenue budget monitoring for 2022/23 and instructed senior management to continue to exercise tight control to reduce expenditure within their areas and to identify a range of management actions in order to reduce expenditure or increase income.

 

Reasons:

 

The Cabinet has the responsibility to ensure effective budgetary control to contain expenditure within the approved limits set by Council.