Agenda item

AGREED that Cabinet:

a)      note the General Fund projected favourable outturn variance of £0.422m;

b)      note the Housing Revenue Account projected favourable outturn variance of £0.113m to the Major Repairs Reserve;

c)      approve the variations to the Capital Programme at Appendix E;

d)      approve the Capital Programme revised budget and financing of £81.237m; and

e)      note the Prudential indicators at Appendix H.

The Business Manager - Financial Services presented a report which detailed performance against the approved estimates of revenue expenditure and income; reported on major variances from planned budget performance; and reported on variations to the Capital Programme for approval; in accordance with the Council’s Constitution.

Members heard that despite an unfavourable variance of £418,000 for the net cost of services, it was forecast that the Council would be able to transfer £422,000 into reserves at the end of the year. The HRA also showed a favourable variance of £113,000 likely to be able to transferred to the major repairs reserve at the end of the year. The report included details of the summary position for the Capital Programme split between the General Fund and Housing Revenue Account, with a forecast outturn of £81.237m. 

AGREED      (unanimously) that Cabinet:

(a)      note the General Fund projected favourable outturn variance of £0.422m;

(b)     note the Housing Revenue Account projected favourable outturn variance of £0.113m to the Major Repairs Reserve;

(c)      approve the variations to the Capital Programme at Appendix E;

(d)     approve the Capital Programme revised budget and financing of £81.237m; and

(e)   note the Prudential indicators at Appendix H.

Reasons for Decision:

To consider the forecast outturn position for the 2023/24 financial year for the Council’s General Fund and Housing Revenue Account revenue and capital budgets.

Options Considered:

Not applicable.