Content

The report presented the
forecast revenue outturn position as at 30 June 2023 for the
financial year 2023-24 and outlined the main variances from the
original budget for both the General Fund (GF) and Housing Revenue
Account (HRA).
 
There is a forecast adverse
variance on the General Fund net cost of services of £0.945m.
This leaves a net drawdown from the General Fund Reserve of
£1.522m, an increase in the planned use of balances by
£0.906m.
 
The forecast closing balance on
the Housing Revenue Account is £2.982m, which was an adverse
movement of £0.024m from the Current Budget.
 
Outstanding debts as at 30 June
2023 totalled £2.269m, with rolling debtor days at
49.39.
 
Cllr Kingsbury commented that
there was already a £1m variance, noted the already existing
budgetary challenges and asked about measures to control the
budget. Cllr Jones responded that while this was a concern it was
early in the financial year; action was being taken, and some
variables were yet to happen. Cllr Zukowskyj added that the Council
was forecast to spend £450k less than anticipated on the
waste contract this financial year.
 
DECISION TAKEN:
Cabinet noted the revenue
forecast outturn position as at Quarter 1 (30 June 2023) and the
position on debts set out in Section 5 of the report.