2022/23 & 2023/24 Financial Statements
Perth and Kinross Council · 18 September 2023
Back to Crieff Common Good Fund Committee — 18 September 2023 and its agenda
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CRIEFF COMMON GOOD FUND COMMITTEE 18 SEPTEMBER 2023 2022/23 & 2023/24 FINANCIAL STATEMENTS Report by Head of Finance (Report No. 23/253) 1. PURPOSE OF REPORT 1.1 This report provides an update on the final outturn for Financial Year 2022/23. The report also seeks approval of the budget for Financial Year 2023/24; and details the Income and Expenditure to 31 July 2023 and the projected outturn for Financial Year 2023/24. 2. RECOMMENDATIONS The Committee is requested to: (i) Note the unaudited Income and Expenditure to 31 March 2023 for the Crieff Common Good Fund for the 2022/23 Financial Year, as set out in Appendix 1 to the report; (ii) Approve the Crieff Common Good Fund budget for Financial Year 2023/24 as set out in Appendix 2 to the report; (iii) Note the Income and Expenditure for the Crieff Common Good Fund to 31 July 2023, and the projected outturn to 31 March 2024, as detailed in Appendix 2 to the report. 3. BACKGROUND / MAIN ISSUES 3.1 The Committee approved the 2022/23 Budget for the Fund at the meeting on 28 September 2022 (Report 22/239 refers). There have been no further meetings during financial year 2022/23. This report provides an update on the unaudited outturn for Financial Year 2022/23. 3.2 The proposed budget for the Fund for Financial Year 2023/24 is included in Appendix 2 to this report. The budget has been prepared based on activity undertaken in 2022/23 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 2023/24 as at 31 July 2023.
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2 4. PROPOSALS Financial Statement 2022/23 4.1 As detailed in Appendix 1, the unaudited surplus for the Fund for Financial Year 2022/23 is £1,189 and the Fund balance at 31 March 2023 is £14,024. The £989 increase from the previously reported surplus is due to a £1,000 under spend in financial assistance offset by £11 less interest for the year. Budget 2023/24 4.2 Appendix 2 provides the proposed budget for Financial Year 2023/24. The Financial Assistance budget has been maintained at £1,500 and the estimated interest increased to £500. There are no other changes from 2022/23, and the budget delivers a £600 surplus to provide a contingency for unforeseen expenditure during the year. Financial Statement 2023/24 4.3 On the basis of Appendix 2, it is anticipated that a surplus of £600 will be generated in financial year 2023/24 and the Fund’s Revenue Account Balance is estimated to be £14,624 at 31 March 2024. Author(s) Name Designation Contact Details Fiona Lambie Accountant CHXFinance@pkc.gov.uk Approved Name Designation Date Scott Walker Chief Accountant 17 August 2023 Karen Donaldson Chief Operating Officer 17 August 2023
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3 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 2022 – 2027 lays out seven 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: • Tackling poverty • Tackling climate change and supporting sustainable places • Growing a sustainable and inclusive local economy • Enabling our children and young people to achieve their full potential • Protecting and caring for our most vulnerable people • Supporting and promoting physical and mental wellbeing • Placing communities at the heart of how we work 1.2 This report relates to all objectives.
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4 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. 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.
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5 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. 6. APPENDICES • Appendix 1 – Unaudited Financial Statement for period to 31 March 2023 for Financial Year 2022/23. • Appendix 2 – 2023/24 Budget and Financial Statement as at 31 July 2023 for Financial Year 2023/24.