Purpose

To consider the Quarter 2 Financial
Monitoring Report 2023/24.

 

Content

(a)  That
the senior leadership team’s forecast of the full year’s forecast outturn for
the Council, made at the end of Quarter 2, including progress of the
transformational and tactical savings incorporated into the budget, be noted.

 

(b)  That
Cabinet identify the priority areas for changes to be made to close the in-year
budget gap.

 

(c)  That
Portfolio Holder’s work with officers to continue to identify and develop
further in-year efficiencies and savings to minimise use of reserves.

 

(d)  That
the capital programme for 2023/24 and updated capital plan for 2023/24 –
2027/28 be noted.

 

Reason for the decision

 

The Council has
responsibilities to deliver within its corporate plan and it must do this
within the resources made available through the revenue and capital budgets for
2023/24.  This report summarised the
Council’s forecast financial performance for the year at the end of the second
quarter.