Agenda item

Final Revenue Budget Report 2022/23 and Final MTFS Report 2022/23 to 2024/25


Members received the Final Revenue Budget 2022/23 and final Medium Term Financial Strategy 2022/2023 to 2024/2025, which was presented to Cabinet on 10 February 2022.


The report set out the final revenue budget for 2022/2023 and final Medium Term Financial Strategy (MTFS) for 2022/2023 to 2024/2025.  In December 2021, Cabinet had approved the draft versions of the revenue budget and MTFS for general consultation. 


A Member queried what potential impact there would be on the MTFS given the projected high rate of inflation due to rising energy/gas costs, and other associated price increases.  It was advised that £4.75m was included in the budget to cover pay and non-pay inflation costs.


Another Member was concerned about budget risks for next year, and which sector would be most affected.  It was advised that the Council would maintain a tight grip on finances given that inflation would have a significant impact.  However, fuel and energy price increases were determined by external factors, outside the Council’s control.  It was hoped that Adults and Children’s Services would remain stable. 


RESOLVED:  That the report be noted.

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