Purpose

A report providing analysis and commentary on
the financial position of the organisation at the end of the
financial year 2023/24.

Decision

That Cabinet:
 

1.    
Notes the net spend in 2023/24 and the consequent residual net
revenue overspend of £7.314m for the organisation at the end
of the year;

2.    
Note the explanations and mitigating actions for variations to
budgets, and the implications for the Medium-Term Financial
Strategy, as set out in Appendix A to the report;

3.    
Notes the delivery of £12.846m (84.75%) savings in 2023/24, a
shortfall of £2.312m against the target, as set out in
Section 4 of the report;

4.    
Approves the drawdown of £0.227m from Earmarked Reserves to
support the delivery of the Council Plan in 2024/25, as outlined in
paragraph 6.9 of the report and Appendix D to the report;

5.    
Approves the drawdown of £1.598m from the Revenue Investment
Funds to support the delivery of the Council Plan in 2024/25, as
outlined in Section 5 of the report and Appendix C to the
report;

6.    
Notes the capital spend in 2023/24 of £175.518m; and

7.    
Approves the reprofiling of £43.496m Services capital spend
from 2023/24 into future years.