Issue - meetings
BUDGET UPDATE REPORT
Meeting: 06/12/2022 - Hampshire and Isle of Wight Fire and Rescue Authority (Item 133)
133 BUDGET UPDATE REPORT PDF 189 KB
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.
Additional documents:
Minutes:
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