DECISIONS

1.    That the financial performance against the budget for the quarter ending 30th September 2022 be accepted.

2.    That the forecast contribution of £455,800 from General Fund balances be accepted.

Reasons:

1.    The Council’s performance up to 30th September 2022, together with the anticipated impact on the Councils services due to the cost-of-living crisis and the increase in inflation, is giving rise to significant pressure on reserves and balances.

2.    However, the Council has been able to mitigate the impact of rising inflation on the budget by revising the Minimum Revenue Provision (MRP) Policy and taking advantage of higher investment returns.