Issue - meetings

Report of the Senior Leadership Team

Consideration was given to a report of the Senior Leadership Team, which was referred by Cabinet to present the budget outturn and budget carry forward for 2022-23 to members.

RESOLVED to:

1) Approve the overall method of financing of the 2022/23 capital expenditure as set out in paragraph 3.4; and

2) Approve the determination of the minimum revenue provision for the repayment of debt as set out in paragraph 3.5.

Report of the Senior Leadership Team

The Financial Services Manager and Deputy S151 Officer introduced a report, which had been circulated in advance of the meeting, informing Members of the budget outturn and budget carry forwards for 2022/23.

The report also asked Cabinet to note the final outturn position for 2022/23 and:

1)    Approve the movements on earmarked reserves and provisions;

2)    Approve the Chief Finance Officer’s recommendation to reclassify earmarked reserves into the General Fund Balance;

3)    Note the capital carry forward budgets approved by the Chief Finance Officer in accordance with financial regulations;

4)    Approve the carry forward of non-committed capital budgets from 2022/23 as additions to the 2023/24 budget in accordance with financial regulations; and

5)    Recommend that Council approve the method of financing the 2022/23 capital expenditures which includes making the determinations required for the minimum revenue provision.

RESOLVED to:

1)    Note the budget outturn figures for 2022/23;

2)    Approve the Chief Finance Officer’s decision to reclassify £253,500 of earmarked reserves to the General Fund Balance as detailed in paragraph 2.2 of the report;

3)    Approve the movements in earmarked reserves and provisions as detailed in paragraph 2.6 of the report;

4)    Note the capital carry forwards approved by the Chief Finance Officer included in appendix 6 to the report, being amounts not in excess of £50,000 and committed schemes above £50,000;

5)    Approve the capital carry forwards of £2,186,100 included in appendix 6 to the report for non-committed schemes in excess of £50,000; and

6)    Refer to full Council for approval:

                         i.         The overall method of financing of the 2022/23 capital expenditure as set out in paragraph 3.4; and

                       ii.         The determination of the minimum revenue provision for the repayment of debt as set out in paragraph 3.5.