Purpose

To detail the outturn for the financial year 2023/24 for revenue and capital budgets, based on the draft accounts and to seek approval for any carry forward of budgets into 2024/25

Decision

RESOLVED to RECOMMEND to FULL COUNCIL, that:

1)the Capital budgets and associated funding sources of £6,158,876 be carried forward into 2024-25 to support approved capital projects.

2) the revised capital budget and associated funding for the 2024-25 capital programme as detailed in appendix B be approved.

3) the final capital out-turn and funding for 2023-24 as detailed in appendix C be approved.

4) the remaining balance of the windfall income from the HMRC VAT claim is contributed into the Organisational Development Reserve

Reasons for the decision

To ensure Members are updated regularly and in a timely fashion on the overall Council financial position.

To make the best use of the funding available to the Council and to protect the General fund minimum balance.

Subject to approval, the capital budgets movement into 2024-25 will allow delivery of our approved capital programme.

Alternative options considered

1.    That the report and appendix be noted and to recommend to Full Council that the:

·         Capital budgets and associated funding sources of £6,158,876 be carried forward into 2024-25 to support approved capital projects.

·         the revised capital budget and associated funding for the 2024-25 capital programme as detailed in appendix B be approved.

·         the final capital out-turn and funding for 2023-24 as detailed in appendix C be approved.

·         the remaining balance of the windfall income from the HMRC VAT claim is contributed into the Organisational Development Reserve.

2.    Do nothing.