Agenda item

2022/23 Provisional Finance Outturn Report

Decision:

That Cabinet noted:

1.       The council’s revenue outturn position of £3.0 million overspend within the General Fund, to be funded from the General Fund general reserve (see section 2 in Appendix A1).

2.       The council’s outturn position of £2.8 million overspend within the Housing Revenue Account to be funded from the HRA general reserve (see section 5 in Appendix A1).

3.       The council’s outturn position of net £15.0 million overspend in the Dedicated Schools Grant and a total £39.7 million carried forward in the DSG deficit reserve (see section 6 in Appendix A1).

4.       A breakeven position on Public Health services (see section 7 in Appendix A1).

5.       The council’s capital outturn position of £28.4 million underspend against the revised Capital Programme Budget as set out in (see section 8 in Appendix A1 and Appendix A6).

6.       The in-year collection levels for Council Tax and Business Rates as set out in the report (see section 9 in Appendix A1)

7.       The level of aged debt as at 31 March 2023 (see section 10 in Appendix A1)

8.       Use of reserves and draft closing reserve balances (see section 11 in Appendix A1)

9.       The performance on delivery of savings (as summarised in section 4 in Appendix A1 and detailed in Appendix A2)

10.   The Reserves Policy as approved in the Medium Term Financial Plan and set out in Appendix A4

11.   The Finance Scheme of Delegation amended for administrative changes as set out in Appendix A5

 

That Cabinet Approved:

12.   The drawdown from the General Fund general reserve to balance the outturn position (see section 1 in Appendix A1).

13.   The drawdown of £2.8 million from the HRA general reserve (see section 5 in Appendix A1).

14.   Approve the release of £28.3 million corporate funds as approved in the 2022/23 budget and Quarter 2 report but not initially allocated to directorate cash limit (see section 3 in Appendix A1)

15.   Approve the release of unused one-off funds of £3.8 million to be released from the balance sheet to the Income & Expenditure account to smooth the debt and other impairment (see section 3 in Appendix A1)

16.   The creation of two new Clean Air Zone reserves to account both for the grant fund of £5.1 million and for any operational surplus (£8.4m) (see section 11 in Appendix A1).

17.    The creation of one new reserve to account for the grant fund of £0.9 million for the Family Hubs & Start for Life Programme.

18.  The use of the Capital Financing underspend of £4.3 million for Digital, Business Transformation and Change projects in lieu of Flexible Use Of Capital Receipts (see section 11 in Appendix A1).

19.  The revised financial reporting timetable for 23/24 as set out in Appendix A3.

Supporting documents: