Purpose

To consider the Council’s financial forecast outturn position for Quarter 2 2023/24 and amendments to the Capital Programme.

Decision

RESOLVED:

1. That the GFRA forecast outturn of £2.155m against budget be noted, together with the management actions set out at Annex A of this report.
2. That GFRA savings of £7.541m savings are forecast to be achieved (96% of budget) be noted, which is set out in Annex B of this report.
3. That the forecast outturn for the HRA is an underspend of (£2.662m), which has been offset through an increase in the transfer to reserves be noted, together with the management actions set out at Annex C of this report.
4. That the DSG forecast surplus carry forward of £4.646m be noted, together with the management actions set out at Annex D of this report.
5. That the reserves position as detailed in Annex E are noted.
6. That the forecast outturn on the 2023/24 Capital Programme is an overspend of £0.823m after proposed slippage of £30.580m and acceleration of budget of £27.199m as detailed in Annex F of this report be noted.
7. That the forecast outturn position of the 2023/24 tariff programme as detailed in Annex G be noted.
8. That the debt position of the Council at the end of quarter 2 as detailed in Annex H are noted.
9. That the Write-off of an unrecoverable debts that exceeds £50,000 as detailed in Annex H are approved.
10. That the Treasury Management report including prudential indicators, as detailed in Annex I are noted.
11. That the virements to the original budget as detailed in Annex J are approved.
12. That the current position on the Collection Fund as detailed in Annex K are noted.
13. That the procurement waiver decisions as detailed in Annex L are noted.
14. Cabinet approves the new budget allocations and approves the release of funding totalling £1.541m for new Capital Schemes set out in Annex M.
15. That the additions and amendments to the Tariff Programme are detailed in Annex N be approved.