Decision details

To receive the financial position as at the end of September 2022.

RESOLVED –

1.    That at Quarter 2 net expenditure on services year to date was £6,709,000, £320,000 less than budget be noted;

2.    That by year end the Council anticipated net expenditure of £15,757,000 on services, £512.000 over budget, an increase of £212,000 on Quarter 1, be noted;

3.    That by year end the Council anticipated receiving an increase in funding of £750,000 due to additional investment interest. Overall, an improvement to budget of £238,000 to reduce the budget deficit that was to be met from reserves be noted.

REASON FOR DECISION:

To show the actual expenditure on services compared to the revised budget for the period ending 30 September 2022, and the forecast outturn position, highlighting significant variances from the revised annual budget.