Issue - meetings

Report of Councillor N Barker, Leader of the Council

RESOLVED

(1)           That Cabinet noted the outturn position in respect of the 2022/23 financial year.

(2)           That Cabinet approved the proposed carry forward of capital budgets detailed in Appendix 4 totalling £10.783m.

REASONS FOR DECISION – To appraise Cabinet of the Council’s financial management during 2022-23, and to enable specific capital budgets to be carried forward into the current financial year.

OTHER OPTIONS CONSIDERED AND REJECTED – The financial outturn report was primarily a factual report, detailing the actual position compared to previously approved budgets. Consequently, there were no alternative options to be considered. The allocation of resources to earmarked reserve accounts was undertaken in line with the Council’s Policy and Service Delivery Framework and in the light of the risks and issues facing the Council over the period of the current Medium Term Financial Plan (MTFP).

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

The report to Cabinet set out the outturn position of the Council for the 2022/23 financial year, and proposed a carry forward of capital budgets totalling £10.783m.

Cabinet discussed the content of the report. Members heard how the Director of Finance and Resources was responsible for the preparation of the authority’s Statement of Accounts which, in terms of the CIPFA/LASAAC Code of Practice on Local Authority Accounting in United Kingdom, was required to present a true and fair view of the financial position of the authority at the accounting date and its income and expenditure for the year ended 31 March 2023.

At the conclusion of the discussion, Members indicated their support for the proposed capital budgets carry forward.

RESOLVED

(1)           That Cabinet noted the outturn position in respect of the 2022/23 financial year.

(2)           That Cabinet approved the proposed carry forward of capital budgets detailed in Appendix 4 totalling £10.783m.

REASONS FOR DECISION – To appraise Cabinet of the Council’s financial management during 2022-23, and to enable specific capital budgets to be carried forward into the current financial year.

OTHER OPTIONS CONSIDERED AND REJECTED – The financial outturn report was primarily a factual report, detailing the actual position compared to previously approved budgets. Consequently, there were no alternative options to be considered. The allocation of resources to earmarked reserve accounts was undertaken in line with the Council’s Policy and Service Delivery Framework and in the light of the risks and issues facing the Council over the period of the current Medium Term Financial Plan (MTFP).