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RESOLVED:
 

1.1.        
To note the General Fund revenue budget outturn is
forecast to breakeven at Period 4, after the forecast utilisation
of £63m capitalisation directions requested from DLUHC and
£4.1m 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 note the progress in MTFS savings achievement as
set out in paragraph 4.82.
 

1.3.        
To note the work that has commenced on the
Council’s Transformation

Programme as set out from paragraph 4.77.
 

1.4.        
To note the Housing Revenue Account (HRA) revenue
budget outturn is forecast to overspend by £3.8m.
 

1.5.        
To approve a net budget increase to the 2022-26
General Fund capital programme budget of £0.336m, owing to
slippage, changes in grant funding and the removal of the
transformation budget (originally slipped from 2022-23), as set out
in paragraph 4.97.
 

1.6.        
To approve the allocation of £4.000m reserves
funding for transformation expenditure, as set out in paragraph
4.77.
 

1.7.        
To note the General Fund capital programme 2023-24
forecast underspend of £13.9m against the revised capital
budget (to be agreed by Cabinet) of £144.7m.
 

1.8.        
To note the HRA capital programme 2023-24 forecast
overspend of £4.1m against the revised capital budget of
£33.2m.
 

1.9.        
To note the Council’s historic legacy
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.
 

1.10.    
To note that the Council continues to operate Spend
Control Panels to ensure that tight financial control and assurance
oversight are maintained.
 

1.11.    
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.