Report of Executive Director, Resources
Decision:
11.1 |
The Committee considered a report of the Director of Finance and Commercial Services providing an update on the Council’s financial monitoring position for 2022/23, as at Month 6 (30th September 2022). |
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The report indicated that the Council was forecasting an £18.6m overspend against the 2022/23 budget as at month 6, of which £6.5m related to services within the remit of the Education, Children and Families Policy Committee, and further detail on the breakdown of that overspend was set out in the report. |
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The Committee confirmed that, whilst work would continue on developing plans to mitigate in-year forecast overspends, as well as pressures on the 2023/24 budget, the safety of children in the city would remain of paramount consideration. |
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11.2 |
RESOLVED UNANIMOUSLY: That the Education, Children and Families Policy Committee notes the Council’s financial position as at the end of September 2022 (month 6). |
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11.3 |
Reasons for Decision |
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This paper is to bring the Committee up to date with the Council’s current financial position as at Month 6 2022/23. |
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11.4 |
Alternatives Considered and Rejected |
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The Council is required to both set a balanced budget and to ensure that in-year income and expenditure are balanced. No other alternatives were considered. |
Minutes:
10.1 |
The Committee considered a report of the Director of Finance and Commercial Services providing an update on the Council’s financial monitoring position for 2022/23, as at Month 6 (30th September 2022). |
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The report indicated that the Council was forecasting an £18.6m overspend against the 2022/23 budget as at month 6, of which £6.5m related to services within the remit of the Education, Children and Families Policy Committee, and further detail on the breakdown of that overspend was set out in the report. |
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The Committee confirmed that, whilst work would continue on developing plans to mitigate in-year forecast overspends, as well as pressures on the 2023/24 budget, the safety of children in the city would remain of paramount consideration. |
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10.2 |
RESOLVED UNANIMOUSLY: That the Education, Children and Families Policy Committee notes the Council’s financial position as at the end of September 2022 (month 6). |
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10.3 |
Reasons for Decision |
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This paper is to bring the Committee up to date with the Council’s current financial position as at Month 6 2022/23. |
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10.4 |
Alternatives Considered and Rejected |
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The Council is required to both set a balanced budget and to ensure that in-year income and expenditure are balanced. No other alternatives were considered. |
Supporting documents: