Purpose

This report is the first in the
monitoring cycle for 2023/24 and provides early indications of the
significant financial pressures the Council is facing this year,
and the worsening picture for future years’ budgets.

 

Decision

To approve the
reductions to budgets described in Appendix C and for the in-year
underspend to be transferred to the Managed Reserve Strategy; and
delegate authority to the Director of Finance to determine the
specific budget ceilings affected.