Agenda item

13.1

The report brought the Committee up to date with the Council’s financial position as at Month 4 2022/23.

13.2

RESOLVED UNANIMOUSLY: That Housing Policy Committee:-

1.     Note the Council’s challenging financial position as at the end of July 2022 (month 4).

13.3

Reasons for Decision

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 as well as useable reserves.

13.4

Alternatives Considered and Rejected

13.4.1

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.

10.1

The Director of Finance and Commercial Services presented the report which brought the Committee up to date with the Council’s financial position as at Month 4 2022/23.

10.2

RESOLVED UNANIMOUSLY: That Housing Policy Committee:-

1.     Note the Council’s challenging financial position as at the end of July 2022 (month 4).

10.3

Reasons for Decision

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 as well as useable reserves.

10.4

Alternatives Considered and Rejected

10.4.1

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.