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The Executive Mayor in
Cabinet Resolved: 
 
2.1           
to
note the General Fund revenue
budget outturn is
forecast to underspend by £1.3mat Period
10, after the budgeted utilisation of £63m capitalisation directions
requested from DLUHC. 

 

2.2          
to note
the progress in Medium Term
Financial Strategy (MTFS) savings achievement of £32.4m (89.8%) against the total
savings target of £36.1m as set
out in paragraph
4.106. 
 

2.3          
to note the work that has commenced on the
Council’s Transformation Programme as set out from paragraph
4.101. 
 

2.4          
to note the Housing Revenue Account (HRA) revenue
budget outturn is forecast to overspend by
£12.0m. 
 

2.5          
to note the
General Fund capital programme 2023-24
forecast underspend of
£23.2magainst the
capital budget of £124.0m. 
 

2.6          
to note the
HRA capital programme 2023-24 forecast overspend of £1.8m
against the capital budget of £39.2m. 
 

2.7          
to
note the Council’s historic borrowing and subsequentdebt burden continues to be
critical to the non-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 Governmentits level of structural indebtedness to ensure it can
deliver sustainable Local Government
services. 
 

2.8          
to note that
the Council continues to operate Spend Control Panels to ensure that tight financial control and
assurance oversight are maintained. 
 

2.9          
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.