Agenda item

To receive and consider the report of the Town Clerk/RFO.

The committee received and considered the report of the Town Clerk/RFO.

The report contained revised financial reports on the 2021-22 and proposed 2022-23 budgets. Reviews had taken place by each spending committee during the last Council cycle to balance their budgets in line with the formerly agreed precept increase of 4.9% for 2022-23.

Members scrutinised the budget and raised several questions on specific budget lines and earmarked reserves for deferred or potential projects and services. The committee was satisfied the budget, as presented would offer best value for the Council and residents in the forthcoming year.

Recommended:

1.      That, the report be noted; and,

2.      That, the earmarked reserves as detailed in the report fund some revenue and capital expenditure, including the repurposing the EMRs A/c 375 – CCTV Leys/Burwell to fund 4990/402 the annual contribution towards the CCTV Town Centre Scheme and,

3.      That, the revised budget for 2021-22 as presented, be adopted and,

4.      That, the Capital & Special Revenue Projects as listed, be approved and,

5.      That, the recommendations from the Spending Committees to balance the budget be approved, therefore adopting the budget for 2022-23 as presented.