Issue - decisions

Financial Monitoring - Forecast as at Q3

27/01/2023 - 2022-23 Financial Monitoring - Forecast Position as at Quarter 3

That Cabinet:


1.     Notes the adjusted forecast overspend of £6.689m (1.9%) that would need to be funded from the Directorate and General Risk Reserves at the end of 2022/23;

2.     Notes the forecast delivery of savings for 2022/23 of £9.415m (91.9%), a shortfall of £0.829m against the target;

3.     Notes the forecast capital spend for 2022/23 of £99.834m;

4.     Approves the reprofiling of spend on the capital programme of £14.214m from 2022/23 into future years and notes the carry forward of s278 contributions of £1.030m and the reduction in the estimated Warwickshire Recovery and Investment Fund and Warwickshire Property and Development Group capital spend of £31.041m flowing from the refreshed business plans;

5.     Approves the reclassification of the Digital Road Map Programme of activity as an Investment Fund; and

6.     Approves the transfer of £10.872m to the ‘Available for Use’ reserve following the reserve review to support the MTFS and the Council Plan.