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RESOLVED:
 

1.1.        
To note the General Fund revenue budget outturn is
forecast to breakeven at Period 6, after the forecast utilisation
of £63m capitalisation directions requested from DLUHC,
£3.5m of the corporate risk contingency budget and
£2.2m of the corporate economic demand pressures 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 movement of £2.2m economic
demand pressures budget from Corporate to the Housing directorate
as set out in paragraph 4.95. This is a budget transfer within
directorates, not a change to overall budget, and is in line with
the intended purpose of the £5.5m economic demand pressures
budget agreed at full Council in March 2023.

 

1.3.        
To note the progress in MTFS savings achievement as
set out in paragraph 4.105.

 

1.4.        
To note the work that has commenced on the
Council’s Transformation Programme as set out from paragraph
4.100.

 

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 £17.6m against the revised capital
budget of £144.7m.

 

1.7.        
To note the HRA capital programme 2023-24 forecast
overspend of £5.7m against the revised capital budget of
£33.2m.

 

1.8.        
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.

 

1.9.        
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.