Purpose

The purpose of the report is to provide a
summary of the Quarter 2+ revenue forecast outturn incorporating
the business as usual forecast. The report also provides an update
on the Dedicated Schools Grant (DSG), Housing Revenue Account
(HRA), Collection Fund
and updates to the Capital Programme. The report also provides
updates on budget
virements to be incorporated into the 2024/25 budget setting
process.

Decision

The Cabinet has
considered the Quarter 2+ revenue forecast outturn including an
update on the Dedicated Schools Grant, Housing Revenue Account,
Collection Fund, updates to the Capital Programme and budget
virements to be incorporated into the 2024/25 budget setting
process, and has agreed to:-
 
(1) Approve the
virements to the Revenue Budget.
 
(2) Note the cash
limit and non-cash limit forecast outturn positions for 2023/24 as
at Quarter 2+.
 
(3) Note the DSG, HRA
and Collection Fund forecast outturn positions for 2023/24 as at
Quarter 2+.
 
(4) Note the update on
Reserves.
 
(5) Note the update on
the council’s medium term financial position.
 
(6) Note the forecast
position for the 2023/24 Capital Programme.
 
(7) Note the changes
to the Capital Programme and re-phasing of schemes during Quarter
2+.
 
(8) Note the 2023/24
Capital Programme Prudential Indicators.

Alternative options considered

None.