Decision

RESOLVED that Cabinet:-

1. Note the £17.5M projected cost pressure on the Council’s 23/24 General Fund budget and the plans to bring this into balance by year end as identified within the body of the report; and
2. Approve a formal moratorium on all expenditure, to include added scrutiny of procurement spend and recruitment, to help mitigate these pressures; and
3. Agree to receive further updates from Executive Directors on the delivery of their service reviews/efficiencies and future spending plans, ensuring that these are managed within agreed resource envelopes; and
4. Agree to use the £7.4M provision set aside within the 23/24 budget to partly offset the forecast pressures, with the remainder (should this position not improve), being funded from a reprioritisation of existing earmarked reserves; and
5. Note the current forecast pressure of £0.8M on the Housing Revenue Account; and
6. Approve the accounting write-off of historic bad debts totalling £0.969M as detailed in the report; and
7. Note the forecast position on the Capital Programme; and
8. Note scheme slippage totalling £3.6M; and
9. Note total variation in scheme costs totalling £1.2M, including a cost variation on the Billingley View new build HRA scheme and agree to vire resources from underspends elsewhere within the programme to fund these cost variations; and
10. Approve new schemes to be released into the programme totalling £43.6M in line with the agreed 2023/24 Capital Programme; and
11. Note the key messages from the Council’s Q1 Treasury Management activities.