Issue - meetings

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

Report of the Cabinet Member for Finance and Change detailing the Revenue and Capital Outturn for 2022/23.

RESOLVED: to

General Fund – Revenue

i)  Notes the General Fund revenue outturn for 2022/23 has been balanced by drawing down £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)  Agrees the requests to carry forward un-ringfenced grant funding totalling £0.16M as outlined in paragraph 8 of Appendix 1.

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

Housing Revenue Account

v)  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

vi)  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.

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

viii)  Approves 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.

ix)  Approves the latest prudential indicators for the revised capital programme as detailed in Annex 2.3.

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.