Purpose

Report of the Cabinet Member for Finance &
Change summarising the General Fund and Housing Revenue Account
(HRA) financial position for the 3 months to the end of June
2023.

Decision

General Revenue Fund
Cabinet is recommended to:
(i) 
Note the forecast outturn position is a £20.91M deficit,
after taking account of £9.08M agreed in-year cost control
measures, as outlined in paragraphs 3 to 8. 
(ii) 
Note the performance in delivering agreed savings plans and in-year
cost control measures for 2023/24 as detailed in paragraph 9.
(iii) 
Note the performance of treasury management, and financial outlook
in paragraphs 10 to 14.
(iv) 
Note the performance against prudential indicators in paragraph
15.
(v) 
Note the forecast year end position for reserves and balances as
detailed in paragraphs 16 to 18.
(vi) 
Note the Key Financial Risk Register as detailed in paragraph
19.
(vii) 
Note the performance indicators detailed in paragraphs 25 and
26.
(viii) 
Note the forecast outturn position outlined in the Collection Fund
Statement detailed in paragraphs 30 to 36.
(ix) 
Agree the draft action plan attached at Appendix 9.
 
Housing Revenue Account
Cabinet is recommended to:
(x) 
Note the forecast outturn position is a surplus of £0.58M as
outlined in paragraphs 27 and 28.

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.