Decision details

The report provides a projection of the end of year financial position of the General Fund revenue budget.

The report set out the financial monitoring information for the Council as at 1 December 2023, i.e., Q3 of 2023/24. The report provided Members with an overview of budget performance, including an overview of reserves and balances, to enable the Committee to take ownership of the budgets and provide robust challenge and scrutiny to Officers on the performance of those budgets. At the end of Quarter 3, there is a favourable end of the financial year projected position of £458k on the Council's revised net revenue expenditure budget, of £22.2m. This position is based on budget activities as at 1 December 2023, projected trends in income and expenditure and changes to Council funding.

Proposed by Councillor Prater,

Seconded by Councillor J Martin; and

RESOLVED:

1.         That report C/23/78 be received and noted.

(Voting figures: 9 for, 0 against, 0 abstentions).

REASONS FOR DECISION:

The Cabinet is asked to note the recommendation as it needs to be informed of the Council's General Fund revenue budget position, note the forecast outturn underspend position, and consider any action required as appropriate. Regular monitoring and reporting of the revenue budgets and savings achievements enable decisions to be taken in a timely manner, which may produce revenue benefits and will improve the financial control of the Council.