2022/23 Financial Statement
Perth and Kinross Council · 21 December 2022
Back to Perth Common Good Fund Committee — 21 December 2022 and its agenda
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PERTH COMMON GOOD FUND COMMITTEE 21 DECEMBER 2022 2022/23 FINANCIAL STATEMENT Report by Head of Finance (Report No. 22/306) 1. PURPOSE OF REPORT This report provides details of the Income and Expenditure to 31 October 2022 and the projected outturn for Financial Year 2022/23 for the Perth Common Good Fund. 2. RECOMMENDATIONS 2.1 The Committee is requested to: (i) Note the projected Income and Expenditure to 31 March 2023 for the Perth Common Good Fund for the 2022/23 Financial Year, as set out in Appendix 1 to the report. 3. BACKGROUND / MAIN ISSUES 3.1 The budget for Financial Year 2022/23 was approved by the Committee on 21 February 2022 (Report 22/40 refers). The Committee received financial monitoring updates at the meetings on 26 April 2022 (Report 22/100 refers), 22 June 2022 (Report 22/144 refers) and 28 September (Report 22/236 refers). 3.2 This report provides an update on the projected outturn for Financial Year 2022/23. 4. PROPOSALS Financial Statement 2022/23 4.1 Appendix 1 provides the 2022/23 Financial Statement which includes the Budget approved by Committee on 21 February 2022 (Report 22/40 refers). 4.2 The year end projection for rental income which will be received in 2022/23 has been increased by £30,625. The increase reflects the backdated income which arises from the rent reviews completed in 2022. There are currently no other changes to year end estimates for income or expenditure. 4.3 The previously reported surplus for 2022/23 has increased to £63,325 and the estimated Fund balance at 31 March 2023 is £1,882,317.
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Author(s) Name Designation Contact Details Donald Coyne Senior Accountant CHXFinance@pkc.gov.uk Approved Name Designation Date Stewart Mackenzie Head of Finance 30 November 2022 Karen Donaldson Chief Operating Officer 1 December 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. 1.2 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. 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
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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. 6. APPENDICES • Appendix 1 – Perth Common Good Fund - Financial Statement for the period to 31 October 2022 for Financial Year 2022/23