Agenda item

Report from the Strategic Director for Finance and Customer Service.

Recommendations:

1. That the update on the revenue budget financial outturn 2022/23 be noted.

2. That the Council’s progress on the delivery of the Local Council Tax Support Top Up payment 2023/24 be noted.

3. That the Council’s delivery of the Household Support Fund 2022/23 be noted.

4. That Cabinet delegates the decision to allocate and spend the £3m Feasibility Fund to the Strategic Director for Regeneration & Environment in consultation with the Leader of the Council and Assistant Director Financial Services.

5. That Cabinet approve the capital budget variations as detailed in section 2.7 of the report.

Consideration was given to the report that provided an update to Cabinet on a number of financial matters. The report was provided as an interim update for Cabinet, following on from the approval of the Budget and Council Tax 2023/24 report at Council on 1 March 2023 and in advance of the Financial Outturn 2022/23 report and May Financial Monitoring 2023/24 report that should be submitted to Cabinet in July 2023.

This report also provided an update on the Council’s administration of the Local Council Tax Support Top Up payment and Household Support Fund for 2023/24 along with a number of Capital Programme variations and an update on Feasibility Funding received from the South Yorkshire Mayoral Combined Authority.

The expected outturn position had improved and was now down to £8.4 million. The biggest single pressure being the impact of inflation and energy prices, but the £8.4 million position should improve before the year end. This was an improvement from £7.3 million at the end of 2022-2023 and the Council was able to use less reserves than anticipated.

The main improvement was down to a number of adult care placements that were able to be picked up through NHS funding and further improvements in terms of Children and Young People’s placements.

The recommendations were then proposed.

Resolved:

1. That the update on the revenue budget financial outturn 2022/23 was noted.

2. That the Council’s progress on the delivery of the Local Council Tax Support Top Up payment 2023/24 was noted.

3. That the Council’s delivery of the Household Support Fund 2022/23 was noted.

4. That Cabinet delegated the decision to allocate and spend the £3m Feasibility Fund to the Strategic Director for Regeneration & Environment in consultation with the Leader of the Council and Assistant Director Financial Services.

5. That Cabinet approved the capital budget variations as detailed in section 2.7 of the report.