Agenda item
Budget Monitoring and Financial Position Month 6, 2022/23
Report of the Executive Director, Resources
Decision:
7.1 |
The report brings the Committee up to date with the Council’s financial position as at Month 6 2022/23 including General Fund revenue position, Housing Revenue Account and Capital Programme Monitoring (Appendix 4). The report as at September 2022 also provides an update on the Council’s Collection Fund (Appendix 1), Treasury Management Outturn (Appendix 2) and Reserves Strategy (Appendix 3). |
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7.2 |
RESOLVED UNANIMOUSLY: That the Finance Sub-Committee:-
1. Notes the Council’s financial position as at the end of September 2022 (month 6);
2. Notes the Council’s forecast Collection Fund position as at September 2022;
3. Notes the Treasury Management position and impact on revenue budgets as at September 2022; and
4. Note the Council’s reserves position and strategy |
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7.3 |
Reasons for Decision |
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7.3.1 |
The paper is to bring the committee up to date with the Council’s current financial position as at Month 6 2022/23 including Revenue General Fund, Housing Revenue Account, Capital Programme, Collection Fund, Treasury Management position and the Council’s reserves strategy. |
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7.4 |
Alternatives Considered and Rejected |
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7.4.1 |
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. |
Minutes:
7.1 |
The Director of Finance and Commercial Services submitted a report bringing the Committee up to date with the Council’s financial position as at Month 6 2022/23 including General Fund revenue position, Housing Revenue Account and Capital Programme Monitoring (Appendix 4). The report, as at September 2022, also provides an update on the Council’s Collection Fund (Appendix 1), Treasury Management Outturn (Appendix 2) and Reserves Strategy (Appendix 3).
It was noted that further information in respect of the underspend on the Page Hall project; vacant property rates; Nether Edge & Crookes Active Travel Neighbourhoods overspend; and the Council’s banking contract would be provided to Members. |
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7.2 |
RESOLVED UNANIMOUSLY: That the Finance Sub-Committee:-
1. Notes the Council’s financial position as at the end of September 2022 (month 6);
2. Notes the Council’s forecast Collection Fund position as at September 2022;
3. Notes the Treasury Management position and impact on revenue budgets as at September 2022; and
4. Note the Council’s reserves position and strategy |
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7.3 |
Reasons for Decision |
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7.3.1 |
The paper is to bring the committee up to date with the Council’s current financial position as at Month 6 2022/23 including Revenue General Fund, Housing Revenue Account, Capital Programme, Collection Fund, Treasury Management position and the Council’s reserves strategy. |
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7.4 |
Alternatives Considered and Rejected |
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7.4.1 |
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. |
Supporting documents:
- 8 - M6 2223 Committee Finance Monitoring Report - Finance Sub-Committee Full version, item 7. PDF 318 KB
- 8 - M6 2223 Appendix 1 Finance Sub Monitoring - Collection Fund Final, item 7. PDF 128 KB
- 8 - M6 2223 Appendix 2 Finance Sub Monitoring - Treasury Management Outturn, item 7. PDF 281 KB
- 8 - M6 2223 Appendix 3 Finance Sub Monitoring - Reserves Strategy, item 7. PDF 149 KB
- 8 - M6 2223 Appendix 4 FInance Sub Monitoring - Capital Programme Dashboard, item 7. PDF 236 KB