Purpose

To
receive the financial position as at the end of June
2023.

Decision

RESOLVED –

 
1. That
the Quarter 1 net expenditure on services year to date was
£2,666,000, £1,098,000 less than budget be
noted.
 
2. That
by year end the Council anticipates net expenditure of
£15,837,000 on services and that this forecast is
£1,001,000 under budget be noted. 
 
3. That
by year end the Council anticipates receiving an increase in
funding of £1,248,000, due to additional investment interest
and that overall, this means an improvement to budget of
£2,249,000 be noted.  Further,
that the Council will transfer £1,832,000 of this to
earmarked reserves and £417,000 will reduce the budget
deficit that was to be met from reserves be noted. 

 
 
REASON FOR DECISION: To
show the actual expenditure on services compared to the revised
budget for the period ended 30 June 2023, and the forecast outturn
position, highlighting significant variances from the revised
annual budget.