Issue - decisions

Revenue Management Report Quarter 3

23/03/2023 - Revenue Management Report Quarter 3

RESOLVED –

 

1.    That at Quarter 3 net expenditure on services year to date was £10,361,000, £741,000 less than budget be noted.

2.    That by year end the Council anticipated net expenditure of £15,278,000 on services, a forecast of £144,000 under budget, an improvement of £656,000 on Quarter 2 be noted.

  1. That by year end the Council anticipated receiving an increase in funding of £1,150,000 due to additional investment interest. An improvement of £400,000 since Quarter 2.  Overall, this means an underspend compared to budget of £1,294,000, and improvement of £1,056,000 since Quarter 2.  This will fund the budget deficit of £944,000 that was to be met from reserves, with the additional £350,000 being available to be transferred to reserves, be noted.

 

  1. That a new charge for bay suspensions be implemented from 1 April 2023 be approved.

 

REASON FOR DECISION: To show the actual expenditure on services compared to the revised budget for the period ending 31 December 2022, and the forecast outturn position, highlighting significant variances from the revised annual budget