Issue - meetings

As detailed in the recommendations.

Councillor Johnson introduced the report which provided the latest detailed overview of the budget monitoring position for the Council Fund and Housing Revenue Account for the financial year 2022/23 and presented the position, based on actual income and expenditure as at Month 11.

Council Fund

·         An operating surplus of (£2.106m) (excluding the impact of the pay award which had been met by reserves), which was a favourable movement of (£1.413m) from the figure of (£0.693m) reported at Month 10

·         A projected contingency reserve available balance as at 31st March 2023 of £8.364m

Housing Revenue Account

·         Net in-year revenue expenditure forecast to be £2.839m higher than budget

·         A projected closing balance as at 31st March 2023 of £3.635m

The Council had continued to claim payments totalling £4.8m in 2022/23 for Self-isolation and Statutory Sick Pay Enhancement, along with Free School Meals direct payments and Winter Fuel Payments within their eligible periods.

The Corporate Finance Manager added that the closure of accounts for 2022/23 was under way and would be reported to Cabinet in July.  He also provided details on the positive movements which were detailed in the report.

RESOLVED:

(a)       That the report and the estimated financial impact on the 2022/23 budget be noted; and

(b)       The carry forward requests be approved.