Issue - meetings

Report of Director of Finance and Performance

Lead Cabinet member: Councillor Zoe Nicholson

(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 £0.298m 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 the Cabinet member for finance, assets and community wealth building,  in consultation with Chief Finance Officer to make final accounting adjustments.

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

The provision outturn position for 2023/24 was an overspend of £0.298m as shown in Table 1 of the report.

Section 1.5 of the report detailed the main drivers for the cost pressures affecting the Council and work would continue on speaking to Central Government over local government funding.

Policy and Performance Advisory Committee (PPAC), held on 10 July 2024 considered the report and were supportive of the officer recommendations in full. Councillor Gauntlett, Chair of Audit and Governance Committee added that the Council’s external auditor had confirmed at their meeting earlier that all outstanding work would be completed by the next meeting, scheduled on the 5 August 2024.

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 £0.298m 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 the Cabinet member for finance, assets and community wealth building, in consultation with Chief Finance Officer to make final accounting adjustments.

Reason for decisions:

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