Purpose

The purpose of the report is to update cabinet
on the final outturn position (subject to audit) for the Council
against the Budget for 2023-24.

Content

RESOLVED
that:-
 
(1)      the following be
approved:
 
a.       the net re-profiling
to the Capital Programme of £41.901 million from 2023-24 to
2024-25 to reflect expenditure levels during the financial year.
£0.178 million of this has already been factored into the
2024-25 to 2027-28 Medium Term Financial Plan;
 
b.       the transfer of the
balance remaining on the Council Commissioned Services Reserve of
£0.168 million to the Strategic Management
Reserve;
 
c.        the creation
of a new reserve for Children’s Social Care pressures and the
subsequent transfer of £2.700 million to this reserve from
funds set aside in the Strategic Management Reserve at the year
end. It is proposed that the reserve will be used to offset
significant pressures expected in 2024-25 and the utilisation of
the reserve be delegated to the Executive Director of Children,
Young People and Education in consultation with the S151 Officer;
and
 
(2)      the following be
noted:
 
a.       that this final
outturn is based upon the draft Statement of Accounts and is
subject to external audit.
 
b.       the net underspend
of £0.354 million, after the utilisation of the earmarked
reserves, which was transferred to the Council’s General
Fund.
 
c.        the
supplementary estimates at Appendix A and the required changes to
the budgets.
 
d.       the delivery of the
approved savings at Appendix B.
 
e.       the use of the
contingency shown at Appendix L.
 
f.        the use of
reserves shown at Appendix M.
 
g.       the details of
capital project reprofiling shown at Appendix O.