Issue - meetings

Report of Director of Finance and Performance

Lead Cabinet member: Councillor Zoe Nicholson

(Non-key decision):

(1) To note the General Fund, HRA and Collection Fund financial performance for the quarter ended December 2022.

(2) To note the capital programme as set out at Appendix 2 to the report.

The Cabinet considered the report of the Director of Finance and Performance, updating members on the Council’s financial performance at Quarter 3 2022/23.

The figures detailed in the report were reflective of the Council’s financial position as of 31 December 2022. An updated financial position at year end would be presented as part of the outturn report in July 2023. It was anticipated that due to putting aside reserves and other support, the Council would achieve a balanced position by year end.

Policy and Performance Advisory Committee (PPAC), held on 16 March 2023 considered the report and were supportive of the officer recommendations in full. Councillor Linington, Deputy-Chair of Policy and Performance Advisory Committee, was in attendance to present PPAC’s discussion.

In a response to a question raised by Ms Debbie Twitchen, Tenants Representative around the Housing Revenue Account (HRA), it was advised that money allocated in the Major Repairs Reserves (MRR) was part of the agreed 30-Year Business Plan and could be accessed as and when appropriate. The reserves would be kept under constant review to ensure it was reflective of the Council’s spending requirement on repairs. A further detailed response would also be provided to Ms Twitchen.

Resolved (Non-key decision):

(1) To note the General Fund, HRA and Collection Fund financial performance for the quarter ended December 2022.

(2) To note the capital programme as set out at Appendix 2 to the report.

Reason for decisions:

To enable Cabinet members to consider specific aspects of the Council’s financial performance.