Issue - meetings

RESOLVED:That Cabinet:

(1)  Noted the report.

(2)  Approved the changes to the 2022/23 General Fund budget, as identified in table 3 and paragraph 8.3, a £1.060million decrease in net expenditure.

(3)  Approved the changes to the 2023/24 General Fund budget, as identified in table 3 and paragraph 8.3, a total £532k increase in net expenditure.

(4)  Approved the use of £140k of salary budget carry-forward for additional Service Director capacity for an 18- month period, and that the allocation of the remainder (if needed) will be delegated to the Managing Director (as Head of Paid Service), in consultation with the Leader, Deputy Leader and Executive Member for Finance and IT.

REASONS FOR DECISIONS: Members are able to monitor, make adjustments within the overall budgetary framework and request appropriate action of Services who do not meet the budget targets set as part of the Corporate Business Planning process.

Audio recording – 18 minutes 12 seconds

The Chair invited Councillor Ian Albert, Executive Member for Finance and IT, to present ‘Third Quarter Revenue Budget Monitoring 2022-2023’ and advised of the following:

·         Table 2 in the report detailed the changes in forecast, with the biggest area of   movement being staffing underspends and recycled material costs.

·         The change in recycled material cost had reversed the changes seen earlier in the year and reflected the volatility of the market.

·         The Council had experienced difficulties in recruiting to some posts with a proposal to have funding carried over for use over the next 2 years, with an aim to address some of the resourcing issues.

·         Table 6 highlights the overall forecast impact on the General Fund balance, and highlights the forecast increase compared to the budget but it was noted that expenditure still exceeds funding by £850K, therefore the increase would be met by transfer from other reserves.

·         Recommendation 2.3 sought to increase spending by £549K which was expected to soften some of the increased balance.

·         Resourcing issues had been raised at the Overview and Scrutiny Committee meeting on 9 March 2023.

Councillor Ian Albert proposed, and Councillor Keith Hoskins seconded, and following a vote, it was:

RESOLVED:That Cabinet:

(1)  Noted the report.

(2)  Approved the changes to the 2022/23 General Fund budget, as identified in table 3 and paragraph 8.3, a £1.060million decrease in net expenditure.

(3)  Approved the changes to the 2023/24 General Fund budget, as identified in table 3 and paragraph 8.3, a total £532k increase in net expenditure.

(4)  Approved the use of £140k of salary budget carry-forward for additional Service Director capacity for an 18- month period, and that the allocation of the remainder (if needed) will be delegated to the Managing Director (as Head of Paid Service), in consultation with the Leader, Deputy Leader and Executive Member for Finance and IT.

REASONS FOR DECISIONS: Members are able to monitor, make adjustments within the overall budgetary framework and request appropriate action of Services who do not meet the budget targets set as part of the Corporate Business Planning process.