11 Provisional Revenue and Capital Outturn 2022/23 PDF 147 KB
Report of Director of Finance and Performance
Lead Cabinet member: Councillor Robin Maxted
Additional documents:
Decision:
(Key decision):
(1) To note and approve the revenue and capital provisional outturn for 2022/23 subject to final accounting adjustments;
(2) To note and approve the housing revenue account provisional outturn for 2022/23, subject to final accounting adjustments; and
(3) To give delegated authority to Cabinet member for finance and resources in consultation with Chief Finance Officer to make final accounting adjustments.
Minutes:
The Cabinet considered the report of the Director of Finance and Performance, updating members on the provisional outturn for 2022/23.
Visiting member, Councillor Smart, addressed the Cabinet and questioned the Council’s financial controls, given the significant variances between the agreed budget in February 2023 to year end (31 March 23).
The report detailed that the provisional outturn for Eastbourne Borough Council was an overall adverse variation of £14k (subject to external audit and final accounts adjustments). The report stated that the Council was still managing the increased cost of housing needs, energy costs, inflationary pressures, and economic down-turn. Some of the one-off provisions set aside in the last financial year were incorporated into the revised budget which had contributed to the position detailed. The variance was offset mainly by use of set aside earmarked reserves, grants and funds, contingency budget, higher than expected interest income, savings on interest payments and savings on Minimum Revenue Provision etc.
Resolved (Key decision):
(1) To note and approve the revenue and capital provisional outturn for 2022/23 subject to final accounting adjustments;
(2) To note and approve the housing revenue account provisional outturn for 2022/23, subject to final accounting adjustments; and
(3) To give delegated authority to Cabinet member for finance and resources in consultation with Chief Finance Officer to make final accounting adjustments.
Reason for decisions:
To enable Cabinet members to consider specific aspects of the Council’s financial performance for 2022/23.