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RESOLVED:
 

1.1.        
To note the General Fund revenue budget outturn is
forecast to breakeven at Period 2, after the forecast utilisation
of £63m capitalisation directions requested from DLUHC and
£3.8m of the corporate risk contingency budget. It is not
planned in advance to utilise the risk
contingency budget and directorates will work to bring the service
directorate positions within budget.
 

1.2.        
To approve an increase to revenue expenditure
budgets fully funded by new government funding for the Homelessness
Prevention Grant (£1.9m) and Asylum Dispersal Scheme
(£0.9m).

 

1.3.        
To note the progress in MTFS savings achievement as
set out in paragraph 4.85.

 

1.4.        
To note the work that has commenced on the
Council’s Transformation Programme as set out from paragraph
4.81.

 

1.5.        
To note the Housing Revenue Account (HRA) revenue
budget outturn is forecast to overspend by £1.7m.

 

1.6.        
To approve the net budget increase in 2023-24
General Fund and HRA capital programme budgets resulting from
2022-23 net slippage of £18.422m (GF) and £0.625m
(HRA).

 

1.7.        
To approve a net budget increase to the 2022-26
General Fund capital programme budget of £1.541m (in addition
to slippage), as set out in paragraph 4.101.

 

1.8.        
To note the General Fund capital programme 2023-24
forecast underspend of £0.040m against the revised capital
budget (to be agreed by Council) of £144.332m.

 

1.9.        
To approve a budget increase to the 2022-26 HRA
capital programme budget of £11.232m (in addition to
slippage), as set out in paragraph 4.102.

 

1.10.    
To note the HRA capital programme 2023-24 forecast
overspend of £4.073m against the revised capital budget (to
be agreed by Council) of £33.248m.
 

1.11.    
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.

 

1.12.    
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.