Purpose

The
Cabinet will be asked to consider the projected position of the
Council’s revenue and capital budgets for 2023/24 and, if
necessary, consider proposals for in-year adjustments aimed at
achieving a balanced budget position at the year end.

Content

The
Cabinet will be asked to consider the projected position of the
Council’s revenue and capital budgets for 2023/24 and, if
necessary, consider proposals for in-year adjustments aimed at
achieving a balanced budget position at the year end.

Cabinet resolved
to:
 
(i)  Note the
projected £14.579m revenue overspend forecast for the General
Fund for the 2023/24 financial year, as set out in sections 2 and 3
and Appendix A of the report;
 
(ii)  Note the
projected £7.5m revenue overspend forecast for the Housing
Revenue Account, as set out in section 4 and Appendix A of the
report;
 
(iii)  Approve the changes
to the Capital Programme as detailed in paragraph 5.2 of the
report, resulting in revised budgets of £353.256m for
2023/24, £155.863m for 2024/25 and £95.384m for
2025/26;
 
(iv)  Note the forecast
outturn for the 2023/24 Capital Programme, as set out in paragraph
5.3 of the report;
 
(v)  Note the
issues set out in paragraphs 5.4 to 5.6 of the report regarding the
handover and letting of new properties, particularly concerning
private rental schemes, and the steps being taken to remedy the
issues; and
 
(vi)  Approve virements
from the central budget provision totalling £2.718m, as
detailed in section 6 of the report.