Agenda item
2022/23 Budget update and Draft 2023/24 Medium Term Financial Forecast
Minutes:
The Medium-Term Financial Strategy (MTFS) sets out the key financial management principles and budget assumptions. It is then used as the framework for the detailed budget setting process to ensure that the Council’s resources are managed effectively to meet its statutory responsibilities and deliver the priorities of the Council, over the medium term.
The current draft forecast as outlined in the report is to aid Members in understanding the basis of what is known now, the financial trajectory of the Council and identifying actions that can be taken to address the continuing deficit of resources over expenditure. These actions may involve Members having to take difficult decisions to address the budget gap.
The report also provided the Policy, Resources & Economic Development Committee with an update to the 2022/23 General Fund Revenue budget, Housing Revenue Account and Capital programme as well as the Treasury Management Mid-Year Review 2022/23.
This item was for Information Only and no voting was required.
Supporting documents:
- 2023-24 Draft MTFS Report, item 244. PDF 154 KB
- Appendix A - General Fund 22.23 Estimated Outturn, item 244. PDF 346 KB
- Appendix B - General Fund & HRA 22.23 variances, item 244. PDF 448 KB
- Appendix C - Earmarked Reserves 22.23, item 244. PDF 267 KB
- Appendix D - 23.24 Base Budget Amendments (Draft MTFS), item 244. PDF 144 KB
- Appendix E - HRA 22.23 Estimated Outturn, item 244. PDF 233 KB
- Appendix F - Capital 22.23 Estimated Outturn, item 244. PDF 219 KB
- Appendix G - Treasury Management Mid-Year Review, item 244. PDF 245 KB