Decision

RESOLVED that Cabinet:-

CORPORATE FINANCE PERFORMANCE

1. Note the £4.3M projected cost pressure on the Council’s 2024/25 General Fund budget; and
2. Note the ongoing cost pressures within Children’s Social Care and the plans being to mitigate these pressures as far as is possible; and
3. Agree to receive further updates from Executive Directors on the delivery of their service reviews/efficiency savings and future spending plans, ensuring that these are managed within agreed budget envelopes; and
4. Agree to receive an updated Medium-Term Financial Strategy later in 2024 reflecting any permanent cost pressures arising as a result of the report and an updated strategy to address anticipated future funding gaps; and
5. Note that unless the Council’s funding position improves significantly that some difficult choices regarding future service delivery may have to be made; and
6. Note the Housing Revenue Account was forecast to outturn a balanced position; and
7. Approve the accounting write-off of historic bad debts totalling £0.740M as detailed in the report [NB: all debts remained liable for collection]; and

CAPITAL PROGRAMME PERFORMANCE

1. Note the forecast position on the Capital Programme (paragraph 3); and
2. Note scheme slippage totalling £1.8M; and
3. Note the minor net increase in scheme costs; and

TREASURY MANAGEMENT

1. Note the key messages from the Council’s Q1 Treasury Management activities (paragraph 4).