Decision status: Recommendations Approved
Decision:
11.1
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This report
brings the Committee up to date with the Council’s financial
position as at Month 1 2022/23. The report also reports the
proposed budget timetable for the development of the 2023/24
budget.
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11.2
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RESOLVED UNANIMOUSLY: That Communities, Parks and Leisure
Policy Committee:-
1. Note the
Council’s challenging financial position and the Month 1
position.
2. Note the
budget timetable set out in this report including the requirement
for the Committee to plan to develop budget proposals over the
course of the summer.
3. Note that the
Strategy and Resources Committee was recommended at its 31 May 2022
meeting to “require any Policy Committee that is forecasting
an overspend on their budget to develop an action plan to address
the overspend in-year and ask the Finance Sub-Committee to monitor
both the development of any required action plans and delivery
against them”.
4. Continue
closely to manage and monitor expenditure in line with budget
expectations and ensure forecasts represent current financial
conditions.
5. Ensure that
the spend in the community response team that is unfunded for 23/24
is managed with this in mind.
6.
Reaffirms the approach approved by the FC on 1st June 2022, that to
act as a balance to the Corporate Risk Register, there should be a
Corporate Opportunities Register, detailing new funding
opportunities, partnership opportunities and initiatives that will
help deliver the Council's objectives, such as supporting those
affected by the cost of living
crisis.
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11.3
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Reasons for Decision
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11.3.1
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By the
law the Council must set and deliver a
balanced budget, which is a financial plan based on sound
assumptions which shows how income will equal spend over the short-
and medium-term. This can take into
account deliverable cost savings and/or local income growth
strategies Page 54 Page 11 of 11 as well as useable
reserves.
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11.4
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Alternatives Considered and
Rejected
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11.4.1
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The Council is
required to both set a balance budget and to ensure that in-year
income and expenditure are balanced. No other alternatives were
considered.
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Report author: Ryan Keyworth
Publication date: 30/06/2022
Date of decision: 13/06/2022
Decided at meeting: 13/06/2022 - Communities, Parks and Leisure Policy Committee
Accompanying Documents: