Agenda item

The Executive RESOLVED that

(i)            the spend against the approved revenue budget for the period 1April to 30 June 2022 and the end of year predicted forecast of full year outturn be noted; and

(ii)          the request for up to £13,226 supplementary estimate (full year effect) to provide a recruitment incentive for the investment asset manager in the Investment and Development service be agreed; this will be offset by an increase in income and will therefore not impact the Council’s overall balanced budget, nor require a drawdown from general fund balances. 

The Executive considered a report presenting a high-level view as to the budget and financial performance for the first quarter of 2022/23.

Members noted a proposal to re-advertise the vacant Asset Manager post within the Investment & Development service with recruitment incentives attached to the base salary, following 3 unsuccessful attempts to recruit to this position. It was expected that the supplementary estimate requested to cover this additional expenditure would be funded by additional income from the service, and as such would be cost-neutral to the Council’s net budgets. 

RESOLVED that

(i)     the spend against the approved revenue budget for the period 1April to 30 June 2022 and the end of year predicted forecast of full year outturn be noted;

(ii)   the request for up to £13,226 supplementary estimate (full year effect) to provide a recruitment incentive for the investment asset manager in the Investment and Development service be agreed; this will be offset by an increase in income and will therefore not impact the Council’s overall balanced budget, nor require a drawdown from general fund balances.