Decision details

Budget monitoring - quarter 1, 2022/23

Decision Maker: Cabinet

Decision status: Recommendations Approved

Is Key decision?: No

Is subject to call in?: No


Purpose: to note the budget monitoring report


Cabinet considered the head of finance’s budget monitoring report for quarter 1, 2022/23. 


The Cabinet member for finance reported that increases in inflation and interest rates were having an impact on the council’s budget.  The report showed a forecasted revenue overspend at the 2022/23 financial year-end due to increasing costs.  The opposite impact was being seen on the council’s investments with rising interest rates bringing increased returns.  In terms of the capital programme, projects would be reviewed and reprofiled where necessary due to the inflationary impact. 


Officers would continue to monitor the budget closely. 


RESOLVED: to note the Budget Monitoring Report, Quarter 1, 2022/23. 

Report author: Simon Hewings

Publication date: 01/11/2022

Date of decision: 29/09/2022

Decided at meeting: 29/09/2022 - Cabinet

Accompanying Documents: