Decision details

To consider the second quarter Revenue & Capital Monitoring forecast and to consider any specific recommendations on the application of resources in-year, including movements to and from reserves, as required by financial procedure rules.

1)    That, in regards to the General Fund, (i) the forecast revenue outturn position at Quarter 2 be noted (ii) the forecast year end position on corporate reserves and balances at Quarter 2 be noted (iii) the regular monitoring and review of corporate reserves in 2022/2023 reported to Cabinet as part of the quarterly financial monitoring cycle be noted (iv) approval of the proposed temporary operational measures as set out in paras. 3.7.9 to 3.7.10 be delegated to the relevant Strategic Director in conjunction with the relevant Cabinet Member, having taken account of relevant powers, duties and obligation to consult/engage (v) it be noted and agreed that if a decision is made in relation to fees and charges which amends a previous Cabinet decision (para. 3.7.12 refers) that such a decision will have the effect of changing any previous decision (vi) the award of a four year electricity contract to EDF Energy under the CCS Framework agreement to commence 1 April 2023 (para. 1.2.16 refers) be noted and (vii) it be noted that the Council will continue to work collaboratively with KAL to support KAL’s financial sustainability over the medium term.

2)    That the forecast position on the Collection Fund as at Quarter 2 be noted.

3)    That the Quarter 2 Housing Revenue Account position and forecast year-end reserves position be noted.

4)    That, in regards to Capital, (i) the Quarter 2 forecast capital monitoring position for 2022/2023 be noted and (ii) approval be given to the reprofiling of the 2022/2023 capital plan as set out at Appendix 5.