Issue - meetings

Report of Director of Finance and Performance

Lead Cabinet member: Councillor Zoe Nicholson

(Non-key decision):

(1) To note the forecast outturn position for 2023-24 and associated risks.

(2) To delegate authority to the Director of Finance and Performance and the portfolio holder for finance to apply any budget virements required to effectively manage the overall budget.

(3) To note Appendices 1 & 2 to the report.

The Cabinet considered the report of the Director of Finance and Performance, providing an assessment of the Council’s financial performance against its approved 2023-24 budget, incorporating key financial risks, issues and opportunities identified since 2 April 2023 for the General Fund and the Housing Revenue Account (HRA).

The report detailed that the Council was forecasting a balanced position by year-end. Section 2.3 of the report detailed the main underlying pressures which the Council was seeking to mitigate.

Policy and Performance Advisory Committee (PPAC), held on 7 March 2024 considered the report and were supportive of the officer recommendations in full.

Resolved (Non-key decision):

(1) To note the forecast outturn position for 2023-24 and associated risks.

(2) To delegate authority to the Director of Finance and Performance and the portfolio holder for finance to apply any budget virements required to effectively manage the overall budget.

(3) To note Appendices 1 & 2 to the report.

Reason for decision:

To update members on the financial position of the Council and ensure that the Authority complies with its financial regulations.