Decision details

The Director of Resources submitted a report outlining the revised revenue budget for 2022/23 for this Committee.  Members were reminded that at this time of year, the estimates are revised for the current financial year in order to predict the likely outturn.  This also assists in preparing the original estimate for the coming financial year.

Members were advised that whilst Committee income and expenditure may increase or decrease at the revised estimate, items such as our budgeted core government funding and our council tax precept remain fixed. As a result, any compensating movement is within the council’s earmarked reserves and general fund balances.

It was recognised earlier in the year that the Council was facing significant increases in costs due to inflation and pay increases. For this Committee there was a small net decrease in the budget based on the movement of items within the Consumer Prices Index (CPI).

The Committee was advised that the difference between the Revised and Adjusted Original Estimate is a further decrease in net expenditure of £26,370 after allowing for transfers to and from earmarked reserves.  This means that the total movement from the true Original Estimate to the Revised Estimate is a decrease of £8,470 or a decrease of £27,470 after movements in earmarked reserves.

A comparison between the original and revised budgets for each cost centre was included for Committee’s information and the key movements were highlighted.

RESOLVED THAT COMMITTEE:

Agreed the revenue revised estimate for 2022/23.