2022/23 Financial Statement
Perth and Kinross Council · 28 September 2022
Back to Perth Common Good Fund Committee — 28 September 2022 and its agenda
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PERTH COMMON GOOD FUND COMMITTEE 28 SEPTEMBER 2022 2022/23 FINANCIAL STATEMENT Report by Head of Finance (Report No 22/236) 1. PURPOSE OF REPORT This report provides details of the Income and Expenditure to 31 July 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 2022 for the Perth Common Good Fund for the 2021/22 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), and 22 June 2022 (Report 22/144 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 Section 102 of the Community Empowerment (Scotland) Act 2015 requires the Council to establish and maintain a register of property which is held by the authority as part of the common good and to publish a list of property that it proposes to include in the register. 4.3 Andrew Ferguson, former solicitor with Fife Council and author of the Common Good Law publication, has been assisting Legal & Governance staff in the review of property titles for the former Perth burgh. The review of titles
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2 is complex and, in some cases, has required the involvement of other external legal practitioners. The work is almost complete and members will be invited to attend an informal presentation of the review findings prior to commencement of the public consultation process. However, it is anticipated that further costs will be incurred to finalise the review and a £1,500 estimate for Legal costs is included in Appendix 1. It is anticipated that the cost can be managed from other budget lines and a corresponding adjustment is recorded against Repairs & Maintenance expenditure meantime. 4.4 The projected surplus for 2022/23 is unchanged from the previously reported position at £32,700, and the estimated Fund balance at 31 March 2023 remains at £1,851,692. 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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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 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.
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4 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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5 6. APPENDICES • Appendix 1 – Perth Common Good Fund - Financial Statement for the period to 31 July 2022 for Financial Year 2022/23