Agenda item

The Committee heard from the Business Support Team Leader regarding the Budget and Treasury Monitoring Final Outturn 2022/23. She highlighted it was the final report for 2022/23, subject to the audit of the statement of accounts.

In summarising the report it was explained that, in relation to revenue budgets, the forecast outturn position was a net contribution to reserves of £564,000. Members were being asked to approve that the balance be transferred to a number of areas. This would mean the balance held to £4.153m, which was £1.653m above the minimum working balance of £2.5m previously agreed by Members. The outturn position was an increase in surplus of £445,000 from the forecast outturn reported at quarter three.

In addition to the allocation of the year end surplus, Members were being asked to approve £0.364m from the investment for growth reserve which were the revenue costs incurred during the year in relation to RAF Scampton. The authority would seek to recover costs up to a maximum value of £0.3m.

In relation to capital, schemes were reporting a £3.054m underspend against the revised budget, of which £2.565m was requested for carry forward into 2023/24 and £0.022m was requested to be drawn back into 2022/23. The details of the amendments were included in the report at sections 3.1 and 3.3. There were three amendments to fees and charges also being requested.

Members expressed their thanks to the Officer for a clear and detailed report and presentation. A Member of the Committee enquired as to whether there was any income report provided for the crematorium and the depot, and also whether further financial details could be provided regarding the costings of work in relation to the site at the former RAF Scampton. It was confirmed these would be shared with Members, as would an efficiencies report regarding the depot. In relation to the Crematorium, it was highlighted that the business plan came through the Committee and provided the information requested.

The Chairman confirmed that the recommendations had been moved and seconded en bloc and, on taking the vote, it was unanimously

RESOLVED that:

REVENUE

a)    the out-turn position of a £1.094m gross contribution to reserves against the revised budget for 2022/2023, be accepted, which includes £0.53m of approved revenue carry forwards into 2023/2024. The remaining balance being a net underspend and contribution to reserves of £0.564m.

b)    the balance of £0.564m be transferred as follows:

·         £0.364m to the General Fund Working Balance

·         £0.1m to the Communities at Risk Reserve

·         £0.1m to the Cultural Strategy Reserve

c)    the use of Earmarked Reserves - £0.364m (2.4.1) be approved.

d)    the use of Earmarked Reserves approved by the Chief Finance Officer using Delegated powers (Section 2.4.2) be accepted;

e)    the contributions to Earmarked Reserves (Section 2.4.3) be accepted;

f)     the amendments to the fees and charges schedules for 2023/2024 (2.3.2) be approved, and recommend to Council any new Fees and Charges be implemented.

CAPITAL 2022/2023

g)    the final Capital Outturn position of £4.851m (Section 3) be accepted;

h)    the amendments to the Capital Schemes as detailed in 3.1 be approved

CAPITAL 2023/2024

i)     the additions to the Capital Budget as detailed in 3.3 be approved

TREASURY

j)     the report, the treasury activity and the prudential indicators (Section 4) be accepted;