Issue - decisions

RECOMMENDED that Council: -

(a)    approve that the final revenue surplus for the year of £6.8 million is added to financial resilience reserve with the extra £3.5m not assumed in the 2022/23 budget being used to mitigate the emerging inflationary cost of living pressures; and

(b)    approve the capital virement as set out in paragraph 97.

RESOLVED that Cabinet: -

(c)    approves the capital virements to accept new government grants as set out in paragraph 96.

Voting: Unanimous

Portfolio Holder: Leader of the Council

Reason

·     To comply with accounting codes of practice and best practice which requires councils to report their end of year financial position compared with the budget of the authority.

·     To comply with the council’s financial regulations regarding budget virements and the acceptance of new grants