Content

RESOLVED:
 
1.1.         
To note the General Fund revenue budget outturn is
forecast to underspend by £1.3m at Period 8, after the
budgeted utilisation of £63m capitalisation directions
requested from DLUHC.

 
1.2.         
To approve within budget the inter-directorate
virement of £2.1m non-pay inflation budget from the Adult
Social Care & Health directorate to the Housing directorate on
a one-off basis in 2023-24, as set out in paragraph
4.12.

 
1.3.         
To note the progress in MTFS savings achievement as
set out in paragraph 4.103.

 
1.4.         
To note the work that has commenced on the
Council’s Transformation Programme as set out from paragraph
4.98.

 
1.5.         
To note the Housing Revenue Account (HRA) revenue
budget outturn is forecast to overspend by £12.0m.

 
1.6.         
To note the General Fund capital programme 2023-24
forecast underspend of £20.7m against the revised capital
budget of £127.1m. The 2023-24 General Fund capital budget
has been updated to reflect the changes agreed through the Capital
Programme and Capital Strategy 2023-29 report at the Cabinet
meeting on 6 December 2023.

 
1.7.         
To note the HRA capital programme 2023-24 forecast
overspend of £1.8m against the revised capital budget of
£37.2m. The 2023-24 HRA capital budget has been updated to
reflect the changes agreed through the Capital Programme and
Capital Strategy 2023-29 report at the Cabinet meeting on 6
December 2023.

 
1.8.         
To note the Council’s historic borrowing and
subsequent debt burden continues to be critical to the
non-sustainability of the Council’s revenue budget. Dialogue
with the Department for Levelling Up, Housing and Communities
(DLUHC) continues, and the Council is seeking further financial
support from Government in regard to its level of structural
indebtedness to ensure it can deliver sustainable local government
services.

 
1.9.         
To note that the Council continues to operate Spend
Control Panels to ensure that tight financial control and assurance
oversight are maintained.

 
1.10.      
To note that current forecasts are based on the best
available information at the time and will be subject to review and
change during the financial year.