Purpose

The
Cabinet will be asked to approve the Council’s final revenue
and capital outturn position for 2023/24 and, if necessary, any
appropriate in-year budget adjustments.

Content

Cabinet resolved to:
 
(i)  Note
that the General Fund provisional outturn position for 2023/24 was
£199.568m which, after a net transfer from reserves,
represented an overspend of £2.626m against the revised
budget of £194.460m, as detailed in section 2 of the
report;
 
(ii)  Agree the
transfer of £2.626m from the General Reserve to achieve a
balanced outturn position for 2023/24;
 
(iii)  Note the Housing
Revenue Account (HRA) provisional outturn position for 2023/24 was
an overspend of £6.060m which would be met from a reduced
contribution to the HRA Capital Reserve, as detailed in section 4
of the report;
 
(iv)  Note that the
Dedicated Schools Grant (DSG) provisional outturn position for
2023/24 was an overspend of £2.118m which would be met from
the DSG Reserve, as detailed in section 5 of the report;
 
(v)   Note the performance of
the Investment Acquisition Strategy (IAS) as set out in section 9
of the report;
 
(vi)  Note that the
Capital Programme provisional outturn position for 2023/24 showed
an underspend of £5.405m against a revised budget of
£340.387m;
 
(vii)  Approve the carry forwards
totalling £3.2m to the Capital Programme 2024/25, as detailed
in section 11 and Appendices B and C to the report; increasing the
capital budget for 2024/25 from £252.1m to £255.3m;
and
 
(viii)  Note the update on the progress
on the year-end accounts and the work still outstanding, as set out
in section 12 of the report.