Decision details

To set out the current financial position for the Council at the end of the second quarter of 2023/24..

DECISION:

1)    That Cabinet notes the forecast revenue position of a £338,000 overspend for 2023/24 as detailed in Table 1.

2)    That Cabinet notes the forecast revenue position of the HRA for 2023/24 (surplus of £1.620m) as detailed in Table 3a.

3)    That Cabinet approves the amendment to the HRA Capital Programme at Appendix A – Table 7 to take into account the changes set out in the report.

RECOMMENDATION TO COUNCIL:

4)    That Cabinet refers to Full Council the approval of the use of New Homes Bonus (NHB) from reserves of £300,000 to alleviate in year budget pressures.

5)    That Cabinet recommends to Full Council to amend the Capital Programme at Appendix A – Table 4 to take into account the changes set out in this report.

·       To ensure the Council’s forecast financial position for 2023/24 is considered and related decisions approved.  It is important that the Cabinet are aware of the financial position of the General Fund to ensure that they can make informed decisions that are affordable and financially sustainable for the Council.

·       To not approve the reserve movements outlined within the report.

None declared.