10.1
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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
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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
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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
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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.
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