Agenda item

The report which sought approval from Members for the budget slippage requests to carry an unspent budget from 2022/23 into the 2023/24 budget was presented by the Head of Finance, who also advised that there was an error in the recommendation which should have stated £315k rather than £320k.  It was noted that there was an error in paragraph 7 of the report, the date at the end of the third sentence should be 2021/22 not 2021/23.

The Head of Finance added that the aim was to reduce slippage to nil next year and ensure that future underspent budgets would be managed strategically going forward.  Any budget carried forward would be on an exception basis e.g. for a specific project which had not been completed.

Some Members queried having an underspend at a time when the Authority was making cuts.  The CEO advised that the any underspend is short term, whilst the proposed cuts would tackle longer term budget issues. He also advised that a new finance system was being procured that would be able to give managers timely financial information on a monthly basis which would help to better understand budget underspends.

A motion to approve the recommendation, with the amendment to the specific figure to £315k, was moved, seconded, voted on and carried.

RESOLVED:

The approve the specific slippage requests of £315k (set out in Appendix 1 of the report) be carried forward into the 2023/24 budget.