Content

*RESOLVED –
 

1.  
That the forecast position of the General Fund
Revenue Account at the close of period 5 for the financial year
2023/24 and the continuing uncertainty associated with the outturn
forecast resulting from the significant in year inflationary and
demand led cost pressures be noted.
 

2.  
That the strategy for achieving, as a minimum, a
balanced budget outturn position for the financial year 2023/24 be
supported.
 

3.  
That the General Fund Capital Programme expenditure
forecast at the close of period 5 for the financial year  2023/24 be
noted.
 
REASONS FOR DECISIONS
 

1.  
This periodic monitoring report
summarises the current assessment of the Council’s forecast
outturn for the current financial year and sets out the active
management mitigations to be progressed to balance the 2023/24
budget. It also provides a robust basis for medium term financial
planning.
 

2.  
This is the second formal monitoring
report for the 2023/24 financial year and comes at a time when the
Council is experiencing financial pressures due to the current
economic situation, cost and pay inflation and the ongoing impact
of the Covid-19 pandemic and the cost-of-living
crisis.