24 2022-23 Quarter 1 Revenue Monitoring GRA (General Revenue Account) PDF 363 KB
To consider the report of the Head of Finance, Procurement & Commercial Services.
(Relevant Portfolio Holder: Councillor A Yates)
Additional documents:
Minutes:
The Leader introduced the report of the Head of Finance, Procurement & Commercial Services, which provided a summary of the General Revenue Account (GRA) position for the 2022/23 financial year at quarter 1.
The Leader advised that the report had been considered by the Executive Overview & Scrutiny Committee on 6 September 2022, the minutes of which had been circulated prior to the meeting.
In reaching the decision below the Cabinet considered the decision of the Executive Overview & Scrutiny Committee, the report before it and the recommendations contained therein.
RESOLVED: A. That the 2022/23 GRA quarter 1 position be noted.
B. That future GRA Revenue Monitoring reports be considered by the newly established Budget/Council Plan Committee, unless there are specific recommendations for Cabinet to consider.
25 2022-23 Quarter 1 Revenue Monitoring GRA (General Revenue Account) PDF 363 KB
To consider the report of the Head of Finance, Procurement & Commercial Services.
Minutes:
Consideration was given to the report of the Head of Finance, Procurement and Commercial Services as contained on pages 183 to 186 of the Book of Reports which provided a summary of the General Revenue Account (GRA) position for the 2022/23 financial year at quarter 1.
The Group Accountant outlined the report detailing the following.
· That the quarter 1 forecast outturn position shows a £240k overspend
· The £240k overspend relates to the on-going underachievement of the investment income target of £500k set at the time of SORP
· The current Local Government pay offer for 2022/23
· Escalating energy costs, an estimation of the impacts currently shows a £200k energy cost pressure is expected in 2022/23.
The Chairman welcomed the quarter one position monitoring report and informed that it was found helpful.
RESOLVED:
A. That the 2022/23 GRA quarter 1 position be noted.
B. That future GRA Revenue Monitoring reports be considered by the newly established Budget/Council Plan Committee, unless there are specific recommendations for this Committee and Cabinet to consider.