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RESOLVED:
 
1.1.         
To note the General Fund revenue budget outturn is
forecast to breakeven at Period 3, after the forecast utilisation
of £63m capitalisation directions requested from DLUHC and
£4.5m 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 within budget inter-directorate virements
from Corporate to service directorates for non-pay inflation
(£20.698m) (para 4.70), economic demand pressures
(£1.716m) (para 4.72), Independent Living Fund (ILF) grant
now included in the Social Care Grant (£0.960m) (para 4.68),
and the transfer of equal grant income and expenditure budgets for
the Adult Social Care Discharge Fund and the Market Sustainability
& Improvement Fund (net nil budget change) (para
4.68).

 
1.3.         
To note the progress in MTFS savings achievement as
set out in paragraph 4.82.

 
1.4.         
To note the work that has commenced on the
Council’s Transformation Programme as set out from paragraph
4.77.

 
1.5.         
To note the Housing Revenue Account (HRA) revenue
budget outturn is forecast to overspend by £3.8m.

 
1.6.         
To note the General Fund capital programme 2023-24
forecast underspend of £2.8m against the revised capital
budget of £144.3m.

 
1.7.         
To note the HRA capital programme 2023-24 forecast
overspend of £4.1m against the revised capital budget of
£33.2m.

 
1.8.         
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.

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