Issue - meetings
Quarter 1 Budget & Performance Report
Meeting: 29/09/2022 - Cabinet (Item 155)
To review performance for Quarter 1 2022/23 and the forecast budget outturn for the year.
To provide assurance that progress has been made towards delivery of the agreed revenue budget and service delivery targets, and that the reasons for major variances or potential under-performance are understood and are being addressed to the cabinet’s satisfaction.
The forecast 2022/23 outturn shows a net overspend of £9.4 million.
- Appendix A - Revenue Budget Position 2022/23, item 155 PDF 296 KB
- Correction to Q1 Budget and performance report, item 155 PDF 129 KB
- Appendix B - 2022/23 Capital Programme Forecast Position June 2022, item 155 PDF 399 KB
- Appendix C - Treasury Management Interim Quarter 1 Update Report, item 155 PDF 266 KB
- Appendix D - Savings proposals approved by Full Council on 11 February 2022, item 155 PDF 271 KB
- Appendix E - Delivery Plan updated 2022/23, item 155 PDF 679 KB
The leader of the council introduced the report and highlighted some of the key achievements of the first quarter of 2022/23. Pressures on the budget were also noted including the impact of inflation, pay awards and national difficulties in supply chains. The efforts of the leadership team and officers to adjust and rework programmes accordingly were recognised.
Cabinet members highlighted key points in the report relating to their portfolios.
Group leaders gave the views of their respective groups. In response to queries raised it was noted that:
· Recovery plans had not shown much impact yet but should start to bite soon;
· An additional grant had been given to Beryl bikes, the cabinet member would provide further detail in writing;
· The cost of all raw materials had increased so even basic maintenance cost more;
· Cabinet and the scrutiny management board were working to explore all options to manage the challenges posed.
It was resolved that:
Cabinet, having reviewed performance and financial forecast for the year 2022/23 as set out in the appendices A-E, has not identified any additional actions to be considered to achieve future improvements.