To consider the report of the Finance Group Manager (enclosed).

DECISIONS

1.    That the financial performance for 2022/23 be accepted.

2.    That the debts listed in paragraph 4.5 of the report are approved for write-off.

3.    That the “Covid Support Reserve” is redesignated as the “Contractual Losses Support Reserve” and £445,000 of the current balance be transferred to General Fund balances.

Reasons:

1.    The unaudited accounts for 2022/23 were published on 31st May, with Blaby being amongst only 30% of authorities to meet the statutory deadline. Whilst the accounts are still subject to external audit, it is important to give Members early sight of the outturn to assist with the financial planning process.

2.    The debts listed in paragraph 4.5 of the report are considered to be uncollectable and the amounts involved are above the limit up to which they may be written off by the Executive Director (Section 151) and Portfolio Holder.

3.    In response to Scrutiny’s recommendations concerning the administration’s budget proposals for 2023/24, it was agreed that earmarked reserves would be reviewed at year end to assess whether they are still required or adequately reflect the purpose for which they are held.

Considered - Report of the Finance Group Manager.

Other Options Considered: None.