2021/22 & 2022/23 Financial Statement
Perth and Kinross Council · 28 September 2022
Back to Crieff Common Good Fund Committee — 28 September 2022 and its agenda
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CRIEFF COMMON GOOD FUND COMMITTEE 28 SEPTEMBER 2022 2021/22 & 2022/23 FINANCIAL STATEMENTS Report by Head of Finance (Report No 22/239) 1. PURPOSE OF REPORT This report provides an update on the outturn for Financial Year 2021/22. The report also seeks approval of the budget for Financial Year 2022/23; and details the Income and Expenditure to 31 July 2022 and the projected outturn for Financial Year 2022/23. 2. RECOMMENDATIONS The Committee is requested to: (i) Note the unaudited Income and Expenditure to the 31 March 2022 for the Crieff Common Good Fund for the 2021/22 Financial Year, as set out in Appendix 1 to the report; (ii) Approve the Crieff Common Good Fund budget for Financial Year 2022/23 as set out in Appendix 2 to the report (iii) Note the Income and Expenditure for the Crieff Common Good Fund to 31 July 2022, and the projected outturn to 31 March 2023, as detailed in Appendix 2 to the report. 3. BACKGROUND / MAIN ISSUES 3.1 The Committee approved the 2021/22 Budget for the Fund at the meeting on 28 April 2021 (Report 21/55 refers). During Financial Year 2021/22, the Committee received financial monitoring updates for the Fund at the meetings on 16 June 2021 (Report 21/93 refers), 4 October 2021 (Report 21/178 refers), and 8 December 2021 (Report 21/235 refers). This report provides an update on the unaudited outturn for Financial Year 2021/22. 3.2 The proposed budget for the Fund for Financial Year 2022/23 is included in Appendix 2 to this report. The budget has been prepared based on activity undertaken in 2021/22 and prior years, recognising that the maximum award of Financial Assistance is £500 per application. 3.3 Appendix 2 also provides the monitoring position for Financial Year 2022/23 as at 31 July 2022.
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4. PROPOSALS Financial Statement 2021/22 4.1 As detailed in Appendix 1, the unaudited surplus for the Fund for Financial Year 2021/22 is £334 and the Fund balance at 31 March 2022 is £12,835. The £134 increase from the previously reported surplus is due to £100 underspend in financial assistance and £34 interest for the year. Budget 2022/23 4.2 Appendix 2 provides the proposed budget for Financial Year 2022/23. The Financial Assistance budget has been increased to £1,500 in line with the estimated interest to be received for the year. There are no other changes from 2021/22, and the budget achieves a £200 surplus to provide a small contingency for unforeseen expenditure during the year. Financial Statement 2022/23 4.3 On the basis of Appendix 2, it is anticipated that a surplus of £200 will be generated in financial year 2022/23 and the Fund’s Revenue Account Balance is estimated to be £13,035 at 31 March 2023. Author(s) Name Designation Contact Details Donald Coyne Senior Accountant CHXFinance@pkc.gov.uk Approved Name Designation Date Stewart MacKenzie Head of Finance 09.09.2022
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ANNEX 1. IMPLICATIONS, ASSESSMENTS, CONSULTATION AND COMMUNICATION Strategic Implications Yes / None Community Plan / Single Outcome Agreement None Corporate Plan Yes Resource Implications Financial Yes Workforce None Asset Management (land, property, IST) None Assessments Equality Impact Assessment Yes Strategic Environmental Assessment Yes Sustainability (community, economic, environmental) Yes Legal and Governance None Risk None Consultation Internal Yes External None Communication Communications Plan None 1. Strategic Implications Corporate Plan 1.1 The Council’s Corporate Plan 2018 – 2023 lays out five outcome focussed strategic objectives which provide clear strategic direction, inform decisions at a corporate and service level and shape resources allocation. They are as follows: (i) Giving every child the best start in life; (ii) Developing educated, responsible and informed citizens; (iii) Promoting a prosperous, inclusive and sustainable economy; (iv) Supporting people to lead independent, healthy and active lives; and (v) Creating a safe and sustainable place for future generations. 1.1 This report relates to all objectives. 2. Resource Implications Financial 2.1 There are no direct financial implications arising from this report other than those reported within the body of the main report.
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3. Assessments Equality Impact Assessment 3.1 Under the Equality Act 2010, the Council is required to eliminate discrimination, advance equality of opportunity, and foster good relations between equality groups. Carrying out Equality Impact Assessments for plans and policies allows the Council to demonstrate that it is meeting these duties. 3.2 The information contained within this report has been considered under the Corporate Equalities Impact Assessment process (EqIA) and has been assessed as not relevant for the purposes of EqIA. Strategic Environmental Assessment 3.3 The Environmental Assessment (Scotland) Act 2005 places a duty on the Council to identify and assess the environmental consequences of its proposals. 3.4 The information contained within this report has been considered under the Act. However, no action is required as the Act does not apply to the matters presented in this report. Sustainability 3.5 Under the provisions of the Local Government in Scotland Act 2003 the Council has to discharge its duties in a way which contributes to the achievement of sustainable development. In terms of the Climate Change Act, the Council has a general duty to demonstrate its commitment to sustainability and the community, environmental and economic impacts of its actions. 3.6. The information contained within this report has been considered under the Act. However, no action is required as the Act does not apply to the matters presented in this report. 4. Consultation Internal 4.1 The Chief Operating Officer has been consulted in the preparation of this report. 5. BACKGROUND PAPERS 5.1 No background papers, as defined by Section 50D of the Local Government (Scotland) Act 1973 (other than any containing confidential or exempt information) were relied on to any material extent in preparing the above report.
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6. APPENDICES • Appendix 1 – Unaudited Financial Statement for period to 31 March 2022 for Financial Year 2021/22. • Appendix 2 – 2022/23 Budget and Financial Statement as at 31 July 2022 for Financial Year 2022/23.