Purpose

To provide an overview of the financial
outturn for the year 2023/24 and to seek approval of associated
financial decisions related to the end of year accounting
processes.

Content

That the Corporate
Finance and Governance Portfolio Holder hereby:
 

(a)     notes the financial outturn
position for 2023/24 as set out in this report and appendices;

 

(b)     approves the financing of General Fund
capital expenditure for 2023/24 as detailed in Appendix D;

 
(c)
    approves the movement in uncommitted and earmarked
General Fund reserves for 2023/24 set out in Appendix E;

 
(d)
    approves the General Fund
revenue carry forward items totalling £9.879m (as set out in
column 4 of Appendix K), with budgets for the remaining items
totalling £2.732m (as set out in column 5 of Appendix K)
being transferred to the relevant earmarked commitments reserve
pending further consideration;
 
(e)
    requests Officers, subject
to (d) above, to provide additional information relating to the
unapproved General Fund revenue carry forwards totalling
£2.732m to enable them to be considered further and that
these will be subject to separate / further decisions later in the
year as necessary;

 
(f)
     approves the General Fund capital carry forwards
totalling £12.010m as set out in Appendix D;

 
(g)
    in respect of the HRA,
approves the movement on HRA balances for 2023/24 including any
commitments set out within Appendices H and/or I along with
recharges to the HRA from the General fund of £2.811m for the
year and the financing of the HRA capital expenditure set out in
Appendix I;

 
(h)
    notes the overall General Fund outturn variance of
£1.829m for 2023/24 that is  being
carried forward via the Revenue Commitments Reserve, and:
 

i)   recommends to Cabinet that
£0.259m of this overall General Fund variance that relates to
the net outturn surplus on Off-Street Parking ‘Account’
is set aside for investment in that Service; and

 

ii)  agrees that the remaining balance
of £1.570m is set aside to support the items included in
Table 3 within this report and that final proposals be recommended
to Cabinet when they consider the Portfolio Holder for Finance and
Governance’s Outturn report at their meeting on 26 July
2024.