Purpose

To detail the 2023/24 outturn
position and the summary outturn position for 2022/23 and provide
an update on the overall financial reporting and audit
position.
 

Decision

DECISION:
 

1)  
That Cabinet notes the general fund outturn position
for 2023/24 being an underspend of £116k as detailed in Table
1 of Appendix A and approves the transfer of the surplus to the
Transformation Reserve.
 

2)  
That Cabinet notes the outturn revenue position of
the HRA for 2023/24, a surplus of £701k against a budgeted
surplus of £2.016m, as detailed in Table 3 of Appendix
A.
 

3)  
Cabinet note the outturn for 2022/23, reserve
balances, including the final year end
adjustments, and that due to delay with the closure for 2022/23 all
revenue, treasury and capital year end
adjustments have been dealt with through the year as part of the
Quarterly Monitoring, Reporting to Audit and Governance for
Treasury matters and as part of the 2024/25 budget setting
process.
 

4)  
That Cabinet note that the 2022/23 year end audit
will likely be impacted upon, due to the “Backstop”
following the letter from the Minister for Local Government on 8
February 2024 and subsequent uncertainty following the
4th July General Election.
 

RECOMMENDATIONS TO COUNCIL:
 

5)   
That Cabinet recommends to Full Council to approve
the reserves transactions and balances as set out in Appendix A -
Table 2.
 

6)   
That Cabinet recommends to Full Council to amend the
Capital Programme for 2024/25 as shown in Table 7 to take into
account the changes set out in Appendix A.
 

7)   
That Cabinet recommends to Full Council to amend the
HRA Capital Programme for 2024/25 as shown in Table 10 to take into
account the changes set out in Appendix A.

 

8)   
That Cabinet recommend to Full Council to approve
the capital financing adjustments – Table 3, reserve
transactions and balances for 2022/23 as set out in Appendix B
– Table 5.