Financial Outturn report 2022/23

[Image: Cllr Britcliffe outside Accrington Town Hall, summer 22]

On Wednesday 21 June a report was presented to Hyndburn’s Cabinet ‘Draft Financial Outturn Position’

The report can be read here

Deputy Leader of the Council and portfolio holder for resources, Cllr Peter Britcliffe, addressed Hyndburn’s Cabinet with the following statement, prior to moving the report:

“The good news is that we have managed the budget in an excellent manner up until the end of March 2023, and instead of an overall underspend of £129,000, there is now a surplus of £345,000.

“Extending the good news, included in this surplus is the fact that we have faced a staff wage increase which was much larger than predicted when we set our budget back in February 2022. We have also coped with the enormous increase in energy prices caused by the war between Russia and Ukraine.

“Inflationary pressures have been offset by increases in interest rates and this through shrewd investment from our team that have meant greater returns and a fantastic £216,000 more than was reported to the January cabinet.

“Congratulations to Martin Dyson and his team, and to my predecessor Joyce Plummer for her political steer. This is very, very good news for the people of Hyndburn.”