Purpose

To consider the
third quarter Revenue & Capital Monitoring forecast and to
consider any specific recommendations on the application of
resources in-year, including movements to and from reserves, as
required by financial procedure rules.
 

Content

RESOLVED –
 

1)   
That the forecast revenue outturn position at Quarter 3 for 2023/24
(£9.9m overspend), and the forecast year end position on the
Council’s reserves and balances: £55.8m Reserves, of
which £43.8m were Usable Reserves (£47.4m Reserves, of
which £35.4m were Usable at Q2) be noted.

2)   
That the Quarter 3 forecast HRA position (£600k surplus) and
forecast year-end reserves position be noted.

3)   
That the Quarter 3 forecast capital monitoring position for 2023/24
with regards to Capital (£2.7m underspend) be noted.

4)   
That approval be given to the re-profiling of the 2023/24 capital
plan reduction since Council Budget Report of £27.8m
being
(i)            
+£1.24m grants (Housing DFG/Climate Emergency/Active Travel
Fund)
(ii)           
-£29.1m re-profile (£13.8m/self-financed, £11.5m
grants/S106, £0.7m receipts, HRA RCCO/Reserves
£3.1m)

5)   
That the Quarter 3 treasury management prudential indicators be
noted.