Purpose

To report on quarter
one Revenue & Capital Monitoring 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 in regards to the General Fund (i)
the forecast revenue outturn position at Quarter 1 2023/2024 and
the forecast year end position on the Council’s reserves and
balances, as set out in the report, be noted (ii) approval be given
to endorsing the continuation and strengthening of management
actions implemented in the last financial year to contain actual
income and expenditure with agreed budgets for 2023/2024, which
include but are not limited to the actions as set out at paragraph
7.2 of the report (iii) the actions taken to maintain a Minimum
Working Balance of c£15m, as set out in the report, be
endorsed and that the requirement to update the Medium Term
Financial Plan for the savings necessary to reimburse the Demand
Reserve to enable the funding required for the Safety Valve
Programme Agreement to be available when required be noted and (iv)
it be noted that the use of reserves here onwards would be subject
to the approval of the Service Director (Finance), and that he
adequacy of the Council’s reserves will remain under
review.

2)   
That in regards to the Collection Fund (i) the forecast position on the Collection Fund as
at Quarter 1, and the assumptions upon which it is based, be noted
and (ii) the intention to undertake a review of eligibility of the
Single Person Discount for Council Tax at the earliest possible
opportunity be endorsed.

3)   
That the Quarter 1 forecast Housing Revenue Position and forecast
year-end reserves position be noted.

4)   
That in regards to Capital (i) the
Quarter 1 capital monitoring position for 2023/2024 be noted (ii)
it be noted that a review of the Council’s Capital Programme
is currently being undertaken with a view to reducing debt charges
as a contribution to the Council’s savings target both in
2023/2024 and in subsequent years (iii) that approval be given to
the reprofiling of the 2023/2024 capital plan as at out at Appendix
5 and (iv) that approval be given to the addition of the
£0.09m UKSPF grant to the Capital Plan (profiled as
£0.047m in 2023/2024 and £0.047m in 2024/2025) and its
distribution to the voluntary, community, faith and education
sectors as a capital grant for capital amenities and facilities to
support the safety of Women and Girls.

5)   
That in regards to Treasury Management, the Quarter 1 treasury
management prudential indicators, as set out at Appendix 6, be
noted.