Issue details

Cabinet

24 November 2022

The Local Authorities (Executive Arrangements) (Meetings and Access to Information) (England) Regulations 2012

Notice is hereby given in accordance with Regulation 10 of the Local Authorities (Executive Arrangements) (Meetings and Access to Information) (England) Regulations 2012 that the following Key Decision is intended to be made at the above Meeting of Cabinet. Notification of this Key Decision was not published on the Council’s website 28 clear days before it was due to be considered by Cabinet, as is required by these regulations.

Purpose of Report

Medium Term Financial Plan – Revised Budgets 2022-23

Following completion of the budget review process, Cabinet will be requested to use the ‘Resilience Reserve’ to fund the identified shortfall in the budget and to transfer the underspend on the General Fund in respect of 2022/23 to the Resilience Reserve to pay back the contribution made this year and to increase financial resilience in future years.

Reason for urgency:

It is important to prepare revised budgets as soon as possible within the financial year to provide sufficient time to allow any planned changes to be delivered. The use of the Resilience Reserve to fund the current shortfall is a necessary measure, which it would not be financially prudent to delay until the next scheduled Cabinet meeting on 22 December 2022

Sarah Sternberg

Joint Head of Corporate Governance and Monitoring Officer

16 November 2022