This report provides an update on the revenue budget position of the Council and the reserve funds at the end of September 2022.

In accepting the recommendations, Cabinet will approve and recommend to Council that the budget remains at £11,366,370 as detailed in paragraph 3.3 of the report for 2022/23; any overspend in 2022/23 is financed by an increase in the Transfer from Reserves as detailed in paragraph 3.4 of the report; and the departmental budget movements as detailed in paragraph 3.8 of the report.

The subject of the decision:

This report provided an update on the revenue budget position of the Council and the reserve funds at the end of September 2022.

Alternative options considered:

None.

The reason for the decision:

To comply with S25 of the Local Government Act 2003 regarding setting a balanced budget and monitoring the financial position throughout the year.

The decision:

That Cabinet approves and recommends to Council:-

(1)    that the budget remains at £11,366,370 as detailed in paragraph 3.3 of the report for 2022/23;

(2)    that any overspend in 2022/23 is financed by an increase in the Transfer from Reserves as detailed in paragraph 3.4 of the report; and

(3)    the departmental budget movements as detailed in paragraph 3.8 of the report.