Agenda item

10.1

This report brings the Committee up to date with the Council’s financial position as at Month 8 2022/23.

10.2

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

1.    note the Council’s financial position as at the end of November 2022 (month 8).

2.    That the Chair of the Economic Development and Skills Policy Committee write to the SYMCA to seek assurance of continuation of year 2 Business Support Programme by the end of February 2023.

10.3

Reasons for Decision

10.3.1

This paper is to bring the committee up to date with the Council’s current financial position as at Month 8 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 Head of Accounting presented the report.  The report brought the Committee up to date with the Council’s financial position as at Month 8 2022/23.  The Committee budget area was very stable and currently had a £100k underspend.

Members asked questions regarding mitigation of risk from income from the SPF and the outlook for the Education, Children and Families Policy Committee budget area.

Officers explained that it was hoped that the SYMCA would give assurances around the SPF by the end of February 2023 and full details of all the budget areas would be delivered to Finance Sub Committee.

Councillor Tom Hunt suggested that the Chair of the Committee write to the SYMCA to seek assurances that the end of the ERDF funding would be covered by the SPF.

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 November 2022 (month 8).

2.    The Chair of the Economic Development and Skills Policy Committee write to the SYMCA to seek assurance of continuation of year 2 Business Support Programme by the end of February 2023.

10.3

Reasons for Decision

10.3.1

This paper is to bring the committee up to date with the Council’s current financial position as at Month 8 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.