Issue - meetings

This report sets out the outturn for income and expenditure versus the revenue budget and capital programme for 2022/23 and other key financial data.

Cabinet RESOLVED to note the overall financial outturn position for 2022/23, as detailed in the report.

As a result of Councillor Mili Patel (Deputy Leader and Cabinet Member for Finance, Resources & Reform) having submitted her apologies for absence Councillor Muhammed Butt (Leader of the Council) introduced a report which detailed the outturn for income and expenditure against the Council’s revenue budget and capital programme for 2022 - 23 and other key financial data.  Cabinet was informed that whilst the outturn in relation to the General Fund was in line with the forecast position and reflected a breakeven position for the year this had included a service overspend of £3.7m for Children & Young People along with an overspend of £0.9m in relation to Adult Social Care and Health which had been addressed through the budgeted use of corporate contingencies.  In relation to the outturn on the Council’s Capital Programme, spend in 2022-23 had totalled £165m which equated to 71% of the approved budget.  Members also noted and welcomed the improved outturn position relating to the Dedicated Support Grant (DSG) compared to the Q3 forecast position.

In considering the outturn position, members were advised that the pressures identified in relation to the Children & Young People and Adult Social Care & Health budgets were being driven as a result of increased costs and pressures on demand-led services.  These had resulted in a range of actions being taken in order to control spend and mitigate against the pressures identified, which members noted and supported as detailed in section 3 of the report.

In noting the update provided, members also felt it important to highlight the ambitious nature of the Council’s Capital Programme and ongoing commitment this represented in relation to delivering the Council’s regeneration programme and aspirations across the borough.

In summing up Councillor Muhammed Butt, supported by Cabinet, thanked officers (including the finance team) for their efforts, given the challenging economic background and associated impacts arising from the current cost-of-living crisis.  In highlighting the efforts being made to continue providing services to support those residents in need it was RESOLVED that Cabinet note the overall financial outturn position for 2022 - 23.