Agenda item

Revenue Budget Monitoring 2022/23 - Quarter One

Report of the Group Director of Operations.


The Cabinet Member with the Resources Portfolio introduced the report of the Group Director of Operations (previously circulated) providing an early forecast of the 2022/23 revenue budget outturn as part of the Council’s continuous financial management process.


The submitted report stated that it was the first revenue budget management report to Cabinet for 2022/23 and that the latest projections showed an overall improvement of £0.206M on the 2022/26 Medium Term Financial Plan, which was due to £0.216M of additional balances following the 2021/22 outturn; £0.513M of projected departmental overspends in 2022/23; and an increase of £0.503M in corporate reserves.


RESOLVED - (a)  That the forecast revenue outturn for 2022/23, as detailed in the submitted report, be noted.


(b)  That further regular reports be made to monitor progress and take prompt action if necessary.


REASONS - (a)  To continue effective management of resources.


(b)  To continue to deliver services to agreed levels.

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