Issue - meetings

Report of Councillor P Parkin, Portfolio Holder for Finance.

RESOLVED

That Cabinet noted the April-June 2022 (Quarter One) budget monitoring position, as set out in the Report and its Appendices. 

REASONS FOR DECISION – The report summarised the financial position of the Council, following the first quarter’s budget monitoring exercise for the General Fund, the Housing Revenue Account, Capital Programme and Treasury Management activity. 

OTHER OPTIONS CONSIDERED AND REJECTED – No other options were considered.  The report provided monitoring information on the financial position against the Council’s previously agreed budget.

Please note that this is not a Key Decision so can be implemented by Officers with immediate effect.

The report to Cabinet updated Members on the Council’s General Fund, the Housing Revenue Account and the Capital Programme for the first quarter of the 2022-23 financial year.  The report also provided an update on the Council’s Treasury Management activity and in particular, on the loans, repayments and investments which had been made. 

Cabinet heard how the General Fund was currently forecast to be underspent, largely as a result of lower employee costs due to staffing vacancies, as well as better than expected progress against the Council’s Efficiency Plan. Cabinet also heard that the Housing Revenue Account had remained relatively stable, with only a slight overspend.

Members discussed the report. They heard about the likely budgetary pressures that would face the Council during the year. These included the rising cost of fuel, the cost of energy and the increased employee costs, as a result of the local government staff pay awards. Cabinet considered the implications of these pressures on the Council’s financial position and on the District’s communities. Members asked to be asked to be kept fully informed on them.

RESOLVED

That Cabinet noted the April-June 2022 (Quarter One) budget monitoring position, as set out in the Report and its Appendices.

REASONS FOR DECISION

The report summarised the financial position of the Council, following the first quarter’s budget monitoring exercise for the General Fund, the Housing Revenue Account, Capital Programme and Treasury Management activity.

OTHER OPTIONS CONSIDERED AND REJECTED

No other options were considered. The report provided monitoring information on the financial position against the Council’s previously agreed budget.