Issue - meetings

To consider a report from the Chief Financial Officer, which updates the Authority on the 2022/23 financial monitoring position and the budget setting position for 2023/24.

The Authority considered a report from the Chief Finance Officer (item 9 in the minute book), which provided the Authority with an update on the 2022/23 financial monitoring position and the budget setting position for 2023/24.

A funding update was anticipated in mid-December that would allow more reasonable assumptions for inflation, which currently accounted for the majority of overspend.

During questions, Members learned the importance of using staff in a better, more efficient way to enable the best use of time and resources. It was also highlighted that slower progress with the Station Investment Programme meant that the Authority had not yet incurred capital expenditure to the level anticipated, resulting in the Authority has not taking on additional external borrowing and incurring lower interest and Minimum Revenue Provision (MRP) charges than budgeted. The subsequent savings against the capital financing costs budget enabled a mor robust position going into 2022/23.

The Authority noted that there was an exempt appendix to the report and there were no questions.

RESOLVED

a) That the budget monitoring position was noted by the HIWFRA Full Authority

b) The category a) and b) Delivery Pressures set out in Appendix B was approved by the Hampshire and Isle of Wight Fire and Rescue Authority for inclusion in the 2022/23 budget subject to affordability

c) The category c) and d) Delivery Pressures set out in Appendix B was noted by the Hampshire and Isle of Wight Fire and Rescue Authority

d) The amendment to the capital programme made by the Chief Fire Officer under paragraph B.17 of the financial regulations was noted by the Hampshire and Isle of Wight Fire and Rescue Authority

e) The mid-year review of treasury management activities set out in Appendix C was approved by the Hampshire and Isle of Wight Fire and Rescue Authority

f) The changes to the capital programme set out in exempt Appendix D were approved by the Hampshire and Isle of Wight Fire and Rescue Authority