Purpose

To present to Cabinet the 2022/23 Provisional
Finance Outturn Report

Content

That Cabinet noted:
1.      
The council’s revenue outturn position of
£3.0 million overspend within the General Fund, to be funded
from the General Fund general reserve (see section 2 in Appendix
A1).
2.      
The council’s outturn position of £2.8
million overspend within the Housing Revenue Account to be funded
from the HRA general reserve (see section 5 in Appendix
A1).
3.      
The council’s outturn position of net
£15.0 million overspend in the Dedicated Schools Grant and a
total £39.7 million carried forward in the DSG deficit
reserve (see section 6 in Appendix A1).
4.      
A breakeven position on Public Health services (see
section 7 in Appendix A1).
5.      
The council’s capital outturn position of
£28.4 million underspend against the revised Capital
Programme Budget as set out in (see section 8 in Appendix A1 and
Appendix A6).
6.      
The in-year collection levels for Council Tax and
Business Rates as set out in the report (see section 9 in Appendix
A1)
7.      
The level of aged debt as at 31 March 2023 (see
section 10 in Appendix A1)
8.      
Use of reserves and draft closing reserve balances
(see section 11 in Appendix A1)
9.      
The performance on delivery of savings (as
summarised in section 4 in Appendix A1 and detailed in Appendix
A2)
10.  
The Reserves Policy as approved in the Medium Term
Financial Plan and set out in Appendix A4
11.  
The Finance Scheme of Delegation amended for
administrative changes as set out in Appendix A5
 
That Cabinet Approved:
12.  
The drawdown from the General Fund general reserve
to balance the outturn position (see section 1 in Appendix
A1).
13.  
The drawdown of £2.8 million from the HRA
general reserve (see section 5 in Appendix A1).
14.  
Approve the release of £28.3 million corporate
funds as approved in the 2022/23 budget and Quarter 2 report but
not initially allocated to directorate cash limit (see section 3 in
Appendix A1)
15.  
Approve the release of unused one-off funds of
£3.8 million to be released from the balance sheet to the
Income & Expenditure account to smooth the debt and other
impairment (see section 3 in Appendix A1)
16.  
The creation of two new Clean Air Zone reserves to
account both for the grant fund of £5.1 million and for any
operational surplus (£8.4m) (see section 11 in Appendix
A1).
17.  
 The creation of one new
reserve to account for the grant fund of £0.9 million for the
Family Hubs & Start for Life Programme.
18. 
The use of the Capital Financing underspend of
£4.3 million for Digital, Business Transformation and Change
projects in lieu of Flexible Use Of Capital Receipts (see section
11 in Appendix A1).
19. 
The revised financial reporting timetable for 23/24
as set out in Appendix A3.