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Decision details

Financial update report - December 2022

Decision Maker: Cabinet

Decision status: Recommendations Approved

Is Key decision?: Yes

Is subject to call in?: Yes


To present Cabinet with the latest finance exception report, i.e. to advise Cabinet of any latest material financial changes and identify any additional financial approvals that are required.


That Cabinet:

1.        Approved the drawdown of £4.7m from reserves for the 2022/23 pay awards budget shortfall impact.

2.        Authorised the Council’s S.151 Officer to accept the Adult Social Care Discharge Fund of £1.69m.

3.        Approved the realignment of heat network budgets to meet estimated funding requirements to 31 March 2023. This includes an additional £3.3m being funded from the Council’s capital contingency.

4.        Approved both the upfront payment of the pension deficit (£13.9m) and the future service cost which will generate an upfront saving of £981k and an annual saving of £300k.


That Cabinet noted:

5.             The General Fund risk adjusted forecast overspend of £12.2m, noting further mitigations continue to be explored.

6.             The forecast overspend of £2.0m within the HRA (with actual end of year position being funded by a transfer to or from the HRA general reserve).

7.        The forecast in-year deficit of £19.9m accumulating to a total £44.6m carried forward deficit in the DSG for 2023/24, and that the Council and the Schools Forum are developing a mitigation plan which will seek to address the High Needs overspend.

8.             The forecast £7.3m underspend within the General Fund against the latest approved Capital Programme’s Budget.

9.             The emergency decision taken to approve the use of HRA reserves to enter a contract for £2.0m to secure the service of a company or companies to carry out Waking Watch provision at the Council’s high-rise blocks

10.     The revised reporting of Q3 so that Period 8 rather than Period 9 constitutes a detailed report and thereby comes to Cabinet in January alongside Budget 23/24.


Report author: Denise Murray

Publication date: 06/12/2022

Date of decision: 06/12/2022

Decided at meeting: 06/12/2022 - Cabinet

Effective from: 14/12/2022

Accompanying Documents: