Decision
Analysis
outcome: The council resolved to note the £629k overspend, acknowledge revenue carry-forward requests, and approve transfers to and from several reserves, as well as capital carry-forward requests.
summary: The decision involves the financial outturn of the General Fund, including an overspend and the approval of transfers to various reserves.
topline: The council has decided to acknowledge a £629k General Fund overspend and approve various reserve transfers.
reason_contentious: The issue may be contentious due to the overspend of public funds, decisions on reserve transfers affecting budget allocations, and potential impacts on local services and stakeholders.
affected_stakeholders: Local taxpayers, service users, council departments, and potentially local businesses are affected by the financial decisions and reserve allocations.
contentiousness_score: 5
political_party_relevance: There is no direct mention of political parties or political influence in the decision, but such financial decisions often have political implications.
URL: https://baberghmidsuffolk.moderngov.co.uk/ieDecisionDetails.aspx?ID=983
Decision Maker:
Outcome:
Is Key Decision?: No
Is Callable In?: No
Purpose: To note the Outturn position for the General Fund and approve transfers to reserves.
Content: To note the Outturn position for the General Fund and approve transfers to reserves. It was RESOLVED: - 1.1 That the 2022/23 General Fund financial outturn of £629k overspend compared to budget as set out in this report be noted. 1.2 That the revenue carry-forward requests totalling £34k be noted. 1.3 That the following transfers be approved; a) £4.294m be transferred to the Growth and Efficiency Fund b) (£500k) be transferred from the Inflationary Pressure Reserve c) (£85k) to be transferred from the Business Rates & Council Tax Reserve d) £138k to be transferred to the Waste Reserve e) £1.233m Investment Income be transferred to the Commercial Development & Risk Management Reserve f) £173k of Everyone Active utility cost pressure to be funded from the Covid Recovery Reserve 1.4 That the capital carry-forward requests totalling £23.062m be approved. REASON FOR DECISION To ensure that Members are kept informed of the outturn position for both General Fund Revenue and Capital and to approve earmarked reserve transfers. Alternative Options Considered and Rejected: 1.1 The recommended option is set out in the Recommendations. There are no other available options. Any Declarations of Interests Declared: None Any Dispensation Granted: None
Date of Decision: