Issue - meetings

Report of Director of Finance and Performance

Lead Cabinet member: Councillor Daniel Butcher

(Key decision):

(1) To note and approve the revenue and capital provisional outturn for 2023/24 subject to final accounting adjustments.

(2) To approve the funding of the General Fund provisional outturn 2023/24 of £1.688m from general fund balances.

(3) To note and approve the housing revenue account provisional outturn for 2023/24 subject to final accounting adjustments; and

(4) To give delegated authority to Cabinet member for finance, in consultation with the S151 Officer to make final accounting adjustments.

The Cabinet considered the report of the Director of Finance and Performance, updating members on the provisional outturn for 2023/24.

The provisional outturn position for 2023/24 was a net shortfall of £4.688m as shown in Table 1 of the report. As previously detailed, the overspend related to the additional costs of emergency and temporary accommodation, reduced income from tourism and culture, and additional cost of capital financing due to high interest rates. Further details were contained in the report.

The Deputy Chief Executive and Director of Regeneration and Planning updated Cabinet on the homelessness pressures and measures taken by the Council to address. The issue was affecting a number of local authorities and lobbying of central government would continue. The Council was doing substantial work in prevention, to assist those at risk of homelessness. There was a need for a supply of new housing, and work was ongoing, including discussions with the private sector.

Resolved (Key decision):

(1) To note and approve the revenue and capital provisional outturn for 2023/24 subject to final accounting adjustments.

(2) To approve the funding of the General Fund provisional outturn 2023/24 of £1.688m from general fund balances.

(3) To note and approve the housing revenue account provisional outturn for 2023/24 subject to final accounting adjustments; and

(4) To give delegated authority to Cabinet member for finance, in consultation with the S151 Officer to make final accounting adjustments.

Reason for decisions:

To enable Cabinet members to consider the Council’s financial performance for 2023/24.