Purpose

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

Decision

RESOLVED –

 
1.  That the Quarter 2 net
expenditure on services year to date was £5,471,000,
£1,183,000 less than budget be noted.
 
2. That
by year end the Council anticipates net expenditure of
£15,054,000 on services, £1,932,000 under budget be
noted.
 
3. That
by year end the Council anticipates receiving an increase in
funding of £2,633,000 due to investment income, an overall
improvement to budget of £4,565,000 be noted.  That the Council will transfer £3,816,000 of
this to earmarked reserves and £749,000 will reduce the
budget deficit that was to be met from reserves be
noted. 
 
REASON FOR DECISION: To
show the actual expenditure on services compared to the revised
budget for the period ending 30 September 2023, and the forecast
outturn position, highlighting significant variances from the
revised annual budget.