Purpose

To present Cabinet with the latest detailed
financial outturn report and identify any additional financial
approvals that are required.

Content

That Cabinet noted:

·      
The General Fund forecast £19.3m adverse outturn variance
against the approved budget for 2023/24.

·      
The performance on delivery of savings (as summarised in Section
3).

·      
The General Fund additional net risk of £0.7m against which
Executive Directors plan to mitigate in full (as summarised in
Section 4).

·      
A forecast underspend of £0.8m within the HRA and that over-
or under-spends that materialise on the HRA will be funded by a
transfer from or to the HRA general reserve at the end of the
financial year.

·      
A forecast in-year deficit of £16.4m accumulating to a total
£56.1m carried forward deficit in the DSG for 2023/24.

·      
A breakeven position on Public Health services.

·      
A forecast £30.4m underspend against the revised Capital
Programme’s Budget (Section 6).

·      
That reprioritisation of HRA budgets will be required to
accommodate the spend linked to emergency response at Barton
House

·      
The urgent officer executive decisions in respect of council
financial systems; these being, a) a contract variation in the
council’s ledger system b) the re-procurement of financial
ledger 3rd party hosting arrangement for the Council’s
ledger.
 
Cabinet approved:

·      
The reprofiling of the Capital programme budget to reflect the
forecast £30.4m underspend at P7.

·      
The acceptance of the LAHF capital grant allocation and reprofiling
of the Capital programme budget to reflect incorporation of the
Local Authority Housing Fund’s (LAHF) £1.52m capital
grant funding allocation

·      
The decision to fund £242k unplanned capital expenditure on
temporary accommodation for homeless families through commuted
funds and reprofile Capital programme budget accordingly

·      
The contract award for the procurement of external audit services
provided by Grant Thornton.

·      
The urgent key decision (no.33) for extended expenditure of up to
£510,000 of the council’s payments system funded from
the combined budgets within the Resources and G&R Directorates
and the re[1]procurement of the council’s internet
payment service.

·      
The urgent key decision (no.32) for excess layer insurance for
Bristol Beacon venue to a value not exceeding £90,000 noting
that this will take the total premium value up to a potential
£250,000.