Purpose

Outturn Revenue Budget Monitoring report for
financial year 2023/24

Content

Cabinet
approved:

 
a)   
the transfer of £0.368m
to a new earmarked reservefor
Health & Safety requirements
as detailed in the paragraph
53 and Appendix B; 
 
b)  
the allocation of the £5.705m
underspend to invest in highways
improvements works; 
 
c)   
a further
allocation of £5m of Community Infrastructure Levy (CIL) to increase the investment in highways improvements to
£10.705m; 
 
d)  
that the balance of £0.281m
from the Business Plan Priority reserve
be allocated
to fund additional
highways litter picking activity in 2024/25 and Armed Forces Covenant in 2023/24 and
2024/25. 
 
e)   
the transfer of £0.181m to a new earmarked reservefor Local Nature Recovery Strategy
(LNRS)as detailed in the paragraph 87 and
Appendix B; 
 

Cabinet
noted: 
 
f)    
the general fund
revenue budget outturn position for the financial
year 2023/24; 

 

g)  
the Dedicated Schools
revenue budget outturn position for the financial
year 2023/24; 

 

h)  
the Housing Revenue
Account outturn position for the financial
year 2023/24; 

 

i)    
the contributions to
and from earmarked reserves as planned and detailed
in Appendix B; 

 

j)    
the final
year end position of savings
delivery. 

 

Reason for
Proposals 
 
To inform effective
decision making and ensure sound financial
management as part of the Councils overall
control
environment.  
 
To inform Cabinet on
the financial year end revenue
outturn position for the Council for the financial year 2023/24, including delivery of approved
savings. 
 
To improve the
Councils financial resilience by increasing the balance on the
General Fund reserve and setting aside funds in earmarked reserves
to prudently assist in
managing the Councils financial risks
and future
pressures.