Decision details

The report was provided to update Cabinet on how the Council was performing against the approved 2022/23 – 2024/25 Medium Term Financial Strategy (MTFS) in the current financial year alongside setting out any new challenges that were emerging for the revised MTFS for 2023/24 – 2025/26.

The report provided Members with detail on:

·  The Medium-Term Financial Strategy (MTFS) latest financial position as at 31 December 2022 (Period 9). This was the same position being reported to individual Cabinet portfolio holders during February;

·  The latest Red, Amber and Green (RAG) ratings for the delivery of the (MTFS) savings 2022/23 to 2024/25, as detailed in Appendix A to the report;

·  Details of the budget movements which have taken place up to Period 9 of this financial year, as required by Financial Regulations, and the revised budget following those movements, as detailed in Appendix B, to the report which Members were asked to approve.

On receiving the report Members sought clarification on a number of points, which Officers provided

RESOLVED:

(i)  That the current financial position and actions being taken to address budget variances be noted;

(ii)  That the latest Red, Amber and Green (RAG) ratings for the delivery of the (MTFS) savings 2022/23 to 2024/25, as detailed in Appendix A, be noted;

(iii)  That the budget adjustments up to Period 9 of 2022/23 as summarised in Appendix B, be approved;

(iv)  That the use of the Budget Strategy Reserve to fund the additional cost of £2.888 million for the 2022/23 Pay Award as detailed in paragraph 3.11 of the report be approved;

(v)  That the use of the Budget Strategy Reserve to fund an increase of £1.015 million in the Impairment Allowance for doubtful debts as detailed in paragraph 3.12 of the report be approved;

(vi)  That the use of the Budget Strategy Reserve to balance the budget shortfall of £5.781 million in the Children and Education portfolio as detailed in paragraph 3.20 of the report be approved;

(vii)  That the use of £27,240 from the Commonwealth Games volunteers reserve in the Communities and Leisure Portfolio be approved to fund current Voluntary and Community Sector priorities as detailed in paragraph 3.25. of the report;

(viii)  That a contribution of £400,000 to the existing Family Hubs reserve to support development and roll out of the Family Hubs service in future years as set out in paragraph 3.27. of the report, be approved;

(ix)  That a contribution to the existing Leisure reserves of the year end surplus in relation to Commonwealth Games activities, currently forecast at £75,000, as set out in paragraph 3.28. of the report, be approved;

(x)  That a contribution of the year end surplus in relation to the Employment and Skills service, currently forecast at £87,000, to the existing Employment Learn and Engage reserve as set out in paragraph 3.29. of the report be approved; and

(xi)  That the creation of a new reserve for the Learning Disability Employment Support service be approved and that a contribution of the year end surplus for 2022/23 for the service, currently forecast at £64,000, and any surpluses for future years, to that reserve, as set out in paragraph 3.29. of the report, be approved.