Agenda item

Executive’s approval was sought for the 2022/23 revised budgets for the General Fund, Housing Revenue Account and Capital Programme.

General Fund

The proposed 2022/23 revised budget for the General Fund was attached at appendix 1 to the report.  The appendix showed the original budget for 2022/23, which was approved by Council in February 2022, the current budget which reflected budget transfers and approved changes during the financial year, and the proposed revised budget for 2022/23.

Housing Revenue Account (HRA)

The revised budget for the Housing Revenue Account was set out in appendix 3 to the report.

Capital Programme

The Council’s capital programme was shown in appendix 4 to the report.  It had been updated from the original budgets to reflect approvals within the year and the profiling of the individual schemes following approved changes by Members and from detailed discussions with budget officers.

The risk of not achieving a balanced budget was outlined as a key risk within the Council’s Strategic Risk Register.  Whilst officers were of the view that these risks were being appropriately managed, it needed to be recognised that continued reductions in budgets may mean that adverse variances arising from particular issues or pressures outside of the Council’s control, may not be able to be absorbed from favourable variances in other budgets.  Similarly the income on the HRA needed to be carefully managed to ensure the HRA continued to be sustainable over the life of the 30 year business plan, particularly in light of the expenditure increases the Council had seen during the last 12 months.

Councillor McGregor noted that the Council was in a better position financially than some other local authorities and that was due to the good work of the Council.

Moved by Councillor Clive Moesby and seconded by Councillor Duncan McGregor

RESOLVED that (1) the revised General Fund budget for 2022/23 as set out in Appendix 1 and detailed in Appendix 2 to the report be noted,

(2) the revised HRA budget for 2022/23 as set out in Appendix 3 to the report be approved,

(3) the revised Capital Programme for 2022/23 as set out in Appendix 4 to the report be approved.

(Section 151 officer)

Reasons for Recommendation

The purpose of the report was to set revised budgets as early as possible within the financial year to ensure that identified budget savings were realised, that all budget managers were working to the revised budgets and to allow any planned changes to be delivered.   

Alternative Options and Reasons for Rejection

General Fund and HRA

Any surplus on the Council’s two main revenue accounts would result in an increase in financial balances at the year-end which were available to protect services at a time of declining central government support.  It was proposed that additional resources would be transferred to reserves in preparation for future expenditure.

Capital

There were no alternative options being considered with regard to the proposed allocations from the Capital Programme budget as it ensured the Council’s assets met health and safety requirements in that they were maintained in a fit for purpose state that ensured they remained fully operational.