Decision Maker: Mayor and Cabinet
Decision status: Recommendations Approved
Is Key decision?: Yes
Is subject to call in?: No
It was MOVED, SECONDED and RESOLVED that the Mayor & Cabinet:
· Notes the use of £6.6m Reserve Funding to meet the unbudgeted financial impact of the Pay Award and Energy Tarff pressures during 2022/23, previously £5.5m of Reserve funding was being used in Period 4, the additional reserve usage fully funds the reported pressure on Energy and the Staff pay award.
· Notes the current financial forecasts for the year ending 31 March 2023 and that Executive Directors will continue to work in bringing forward action plans to manage down budget pressures within their directorates.
Report author: Nick Penny
Publication date: 13/01/2023
Date of decision: 11/01/2023
Decided at meeting: 11/01/2023 - Mayor and Cabinet