Purpose

To receive the outturn against the revenue
budget for 2023/24.
 

Decision

Note:
 

1)            
The net revenue expenditure on services in 2023/24, before year end
transfers to reserves, resulted in a favourable variance of
£1.16M lower than the budget approved by Council in February
2023, as detailed in sections 2 and 7 of the report;
 

2)            
The year end contributions to reserves that have been proposed in
line with financial policies, as detailed in section 3 of the
report;
 

3)            
The achievement of planned savings and pressures for 2023/24 as
detailed in section 8 of the report; and
 

4)            
That budget virements amounting to £0.20M were processed
during quarter four, as summarised in section 9 of the report.
 
Recommend Council to approve:
 

5)            
The proposed transfer of the outturn surplus of £1.16M to
earmarked revenue reserves as detailed in section 3 of the
report:
 
·      
To the Budget Carry Forward Reserve £0.57M; and
·      
To the MTFS Risk Reserve £0.59M