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RESOLVED:
 

1.1.        
To note the General Fund revenue budget outturn is
forecast to breakeven at Period 7, after the forecast utilisation
of £63m capitalisation directions requested from DLUHC and
£1.5m of the corporate risk contingency budget. It is not
planned to utilise the risk contingency budget and directorates
will work to bring the service directorate positions within
budget.
 

1.2.        
To approve the budget movements between directorates
to match the movement of teams between directorates as set out in
paragraph 4.13.

 

1.3.        
To approve within budget inter-directorate virements
from Corporate to service directorates for pay inflation
(£10.270m) (para 4.95).

 

1.4.        
To approve within budget inter-directorate virement
of £0.698m from the Corporate economic demand pressures
budget to the Children, Young People and Education directorate as
set out in paragraph 4.97.

 

1.5.        
To approve within budget inter-directorate virements
from Corporate to service directorates to correct General Fund
recharge budgets relating to the HRA, Public Health, capitalisation
of salaries and corporate support (overhead) recharges, and
staffing and income budget corrections (£5.802m) (para
4.99).

 

1.6.        
To note the progress in MTFS savings achievement as
set out in paragraph 4.107.

 

1.7.        
To note the work that has commenced on the
Council’s Transformation Programme as set out from paragraph
4.102.

 

1.8.        
To note the Housing Revenue Account (HRA) revenue
budget outturn is forecast to overspend by £12.0m.

 

1.9.        
To note the General Fund capital programme 2023-24
forecast underspend of £18.0m against the revised capital
budget of £144.7m.

 

1.10.    
To note the HRA capital programme 2023-24 forecast
overspend of £5.7m against the revised capital budget of
£33.2m.

 

1.11.    
To note the Council’s historic borrowing and
debt burden continues to be critical to the 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 regards to its level of indebtedness
and balancing the budget to ensure it can deliver sustainable local
government services.

 

1.12.    
To note that the Council continues to operate Spend
Control Panels to ensure that tight financial control and assurance
oversight are maintained.

 

1.13.    
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.