Agenda item

To report the level of spending and exposure against the Council’s Revenue budgets and reserves and balances for the first 4 months to 31 July 2022.  The report also includes an update on the Medium Term Financial Plan 2023/24 – 2026/27.

The Executive agreed the recommendations as outlined above namely:

1. To note the report.  

2.     To require the respective directors and Director of Resources to continue to closely monitor and manage service financial and operational performances, specifically Children’s Services, Treasury Management and Growth and Prosperity.

3.     To prompt the Scrutiny Leadership Board to continue to independently review the financial and operational performances of the services listed in decision 2.

4.     To continue to lobby central government (Department for Levelling Up, Housing and Communities, Department for Health and Social Care and Department for Education in particular) along with local authority peers and networks and the Local Government Association for the funding necessary to cope with the burdens and demands presenting as a result of exceptional inflationary pressures and demographic demands upon statutory services.

5.     To approve that the £135,000 funding gap for the Library/Grundy Art Gallery roof will be met by additional surplus top-slice funding.

6.     To work towards increased target working balances of £8m from £6m with formal effect from the start of financial year 2023/24.