DECISION

1.    Note the council’s position and consequent provisional outturn as at 31^st March 2024, against General Fund Budget (£0.3m underspend) Dedicated Schools Grant Budget (£1.5m overspend), Housing Revenue Account (£5.2m overspend). 

2.    Note the actions taken to date to address the demand pressures as set out in Appendix A, Section 3.2 of the report.

3.    Note the progress made against the 2023/24 savings targets, based at 31^st March 2024.

4.    Note the council’s provisional outturn position against General Fund and Housing Revenue Account capital programme approved budgets for 2023/24, based on provisional outturn at 31^st March 2024.

5.    Approve the net slippages of £8.9m and net overspends of £1.7m across the General Fund capital programme and net slippages of £10.6m and net underspends of £0.9m across the Housing Revenue Account capital programme as detailed in section 3.18 and 3.19 of the report.

6.    Note that there are no equalities implications directly resulting from this report, as set out in Section 4 of the report.

Action by

CORPORATE DIRECTOR RESOURCES (J. LORRAINE)

Director of Finance, Procurement and Audit (A. Kassim)

Councillor Saied Ahmed, Cabinet Member for Resources and the Cost of Living

introduced the report that provided the provisional outturn position for the General Fund revenue, capital and HRA capital accounts for 2023/24.

The Mayor welcomed the report and expressed his thanks to the Lead Member, the Corporate Director of Resources, Chief Executive and all members and officers involved with helping secure an outturn within budgets despite significant challenges and in-year pressures that many councils across the country had failed to contain.

RESOLVED that the Mayor in Cabinet:

1.    Notes the council’s position and consequent provisional outturn as at 31^st March 2024, against General Fund Budget (£0.3m underspend) Dedicated Schools Grant Budget (£1.5m overspend), Housing Revenue Account (£5.2m overspend). 

2.    Notes the actions taken to date to address the demand pressures as set out in Appendix A, Section 3.2.

3.    Notes the progress made against the 2023/24 savings targets, based at 31^st March 2024.

4.    Notes the council’s provisional outturn position against General Fund and Housing Revenue Account capital programme approved budgets for 2023/24, based on provisional outturn at 31^st March 2024.

5.    Approve the net slippages of £8.9m and net overspends of £1.7m across the General Fund capital programme and net slippages of £10.6m and net underspends of £0.9m across the Housing Revenue Account capital programme as detailed in section 3.18 and 3.19 below.

6.    Note that there are no equalities implications directly resulting from this report, as set out in Section 4.