Purpose

To
receive the financial position as at the end of December
2023.

Decision

RESOLVED –

1.   
That at Quarter 3 net expenditure on services year
to date was £10,062,000, £760,000 less than budget be
noted.

2.   
That by year end the Council anticipated net
expenditure of £14,464,000 on services, a forecast of
£2,507,000 under budget be noted.

3.   
That by year end the Council anticipated receiving
an increase in funding of £2,840,000 due to additional
investment and government grants. An improvement of
£5,347,000.  That £4,249,000
will be transferred to earmarked reserves and £943,000 will
reduce the budget deficit that was to be met from reserves, and
that the remaining £155,000 is assumed at present to be
transferred to the General Fund be approved. 

 
REASON FOR DECISION: To
show the actual expenditure on services compared to the revised
budget for the period ending 31 December 2023, and the forecast
outturn position, highlighting significant variances from the
revised annual budget