Issue - decisions

17/03/2023 - Cabinet Members' Items - Report of the Corporate Finance and Governance Portfolio Holder - A.3 - Financial Performance Report - In Year Performance against the Budget at the end of Quarter 3 2022/23 and Long Term Financial Forecast Update

RESOLVED that Cabinet –


(a)    notes the Council’s in-year financial position at the end of December 2022 along with the updated financial forecast;


(b)    approves the proposed in-year adjustments to the budget, as set out in Appendix H to the Portfolio Holder’s report;


(c)    accepts the £19.960m awarded to the Council following a successful bid to the Government’s Levelling Up Grant Fund Scheme, and authorises the Section 151 Officer to sign the associated Memorandum of Understanding, in consultation with the Corporate Director (Place & Economy) and the Portfolio Holder for Business and Economic Growth;


(d)    subject to c) above, agrees the use of up to £0.250m from the existing Levelling Up Fund Budget of £2.291m to support the development of the scheme for Clacton and authorises the Corporate Director (Place & Economy), in consultation with the Portfolio Holder for Business and Economic Growth to agree any associated expenditure;


(e)    requests Officers to seek on-going assurances from the North Essex Parking Partnership Lead Authority on how they are managing the emerging financial risks of the partnership, with updates to be provided to Management Team and Members accordingly, along with their inclusion within quarterly financial performance reports during 2023/24;


(f)     notes the revised arrangements relating to the £0.750m of grant funding from the Council’s Local Health Partners, as set out within the Portfolio Holder’s report with the schemes now being delivered as part of wider joint partnership arrangements rather than directly by the Council;


(g)    agrees to the acceptance of grant funding from the Council’s Local Health Partners of £0.200m and that the authorisation of associated expenditure from that funding is delegated to the Assistant Director (Partnerships), in consultation with the Portfolio Holder for Partnerships; 


(h)    agrees to the establishment of a King’s Coronation Members’ Small Grant Scheme with £200 being made available to each Member and requests the Section 151 Officer to undertake the necessary steps to implement the scheme including the provision of the necessary information / guidance to enable Members to access this funding as soon as possible; and


(i)     requests that the Resources and Service Overview and Scrutiny Committee be consulted on the latest financial position of the Council.