Issue - meetings

The Cabinet Member for Finance, Growth and Core Services introduced the Council’s revenue budget monitoring report for the 2022/23 financial year as at 31 December 2022 (period 9).

The Council’s General Fund revenue budget for 2022/23 was £183.06m and the forecast outturn position at the end of December projected a net overspend of £11.707m after an in-year increase in corporate funding had been taken into account.

The Cabinet Member referred to the continual underfunding from the Government and ongoing inflationary pressures as reasons for the substantial overspend.  Whilst the Council’s Budget Reserve was sufficient to cover the overspend, the current level of overspend was not sustainable and the position would continue to be closely monitored.

The report also included proposals relating to Car Club fees and charges.  It was noted that there was no clear permit structure in place for car clubs operating in the Borough and it was important to rectify that position as the number of car club bays was anticipated to increase in the near future, due to the expected rise in future developments with planning obligations to provide car club spaces.

Cabinet resolved to:

(i)  Note the projected revenue outturn forecast for the 2022/23 financial year as set out in section 2 and Appendix A of the report;

(ii)  Approve the pay award virement between Corporate Management and all other Directorates as set out in section 4 and Appendix B of the report; and

(iii)  Approve the proposed Car Club fees and charges as set out in section 5 of the report.