Purpose

Report of the Cabinet Member for Finance &
Change summarising the General Fund and Housing Revenue Account
(HRA) financial position for the 9 months to the end of December
2023

Decision

General Revenue Fund
Cabinet is recommended to:
 
(i) 
Note the forecast outturn position is a £11.83M deficit,
after taking account of £23.97M agreed in-year cost control
measures and savings, as outlined in paragraphs 3 to 11.
(ii) 
Note the performance in delivering agreed savings plans and in-year
cost control measures for 2023/24 as detailed in paragraph 12.
(iii) 
Note the performance of treasury management, and financial outlook
in paragraphs 13 to 17.
(iv) 
Note the performance against prudential indicators in paragraphs 18
and 19.
(v) 
Note the forecast year end position for reserves and balances as
detailed in paragraphs 20 to 22.
(vi) 
Note the Key Financial Risk Register as detailed in paragraph
23.
(vii) 
Note the improvement in the Dedicated Schools Grant cumulative
deficit detailed in paragraph 27.
(viii) 
Note the performance indicators detailed in paragraphs 30 to
31.
(ix) 
Note the forecast outturn position outlined in the Collection Fund
Statement detailed in paragraphs 35 to 40.
 
Housing Revenue Account
Cabinet is recommended to:
 
(x) 
Note the forecast outturn position is a surplus of £0.59M as
outlined in paragraphs 32 to 34.

Reasons for the decision

To ensure that Cabinet fulfils its
responsibilities for the overall financial management of the
council’s resources.

Alternative options considered

Not applicable.