Agenda item

10.1

The report brought the Committee up to date with the Council’s financial position as at Month 6, 2022/23

10.2

RESOLVED UNANIMOUSLY: That the Economic Development and Skills Policy Committee Policy Committee:-

1.    Note the Council’s financial position as at the end of September 2022 (month 6).

10.3

Reasons for Decision

10.3.1

The report brought the committee up to date with the Council’s current financial position as at Month 6, 2022/23.

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.

10.1

The report brought the Committee up to date with the Council’s financial position as at Month 6, 2022/23.

A question was asked about the use of reserves and the Director of Finance and Commercial Services explained that the budget had made £17m of reserves available for use this year, but that was not the entirety of the reserves that the Council held.  There was still a need to set a strong robust budget for the next financial year.

10.2

RESOLVED UNANIMOUSLY: That the Economic Development and Skills Policy Committee Policy Committee:-

1.    Note the Council’s financial position as at the end of September 2022 (month 6).

10.3

Reasons for Decision

10.3.1

The report brought the committee up to date with the Council’s current financial position as at Month 6, 2022/23.

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.