Purpose

To provide an integrated finance and
performance update against the Relighting Our City priorities

Content

1.     
That it be noted that the General Fund projected outturn for
2023-2024 is currently forecast to be within budget. 

2.     
That it be noted that the Housing Revenue Account (HRA) for
2023-2024 Housing Revenue Account is currently forecast to be
within budget.

3.     
That it be noted that the interim Director of Finance has approved
write-off of debts against the expected credit loss provision as
detailed in Appendix 5 to the report.

4.     
That it be noted that it is anticipated that the cost of
redundancies can be met from reserves.
 

5.     
That the Strategic Risk Register shown at Appendix 6 to the report
be approved.

6.     
That the use of £40,070 from the Elections Reserve as
detailed in paragraph 8.6 of the report and establishment of
associated supplementary budgets be approved.

7.     
That the use of £300,000 from the Insurance Fund Reserve as
detailed in paragraph 8.7 of the report and establishment of
associated supplementary budgets be approved.

8.     
That the use of £20,000 from the Sustainable Medium Term
Financial Strategy (MTFS) Reserve to fund feasibility study and
specialist external advice to explore the opportunities available
for using Aldersley Leisure Centre for major events as detailed in
paragraph 8.8 of the report and establishment of associated
supplementary budgets be approved.

9.     
That the use of £100,000 from the Building Control reserve to
mitigate reduction in income within City Planning as detailed in
paragraph 8.9 of the report be approved.

10.  
That 14 virements totalling £2.8 million on the General Fund,
for transfers within directorates, as detailed in Appendix 8 to the
report be approved.

11.  
That the delegation to the Interim Director of Finance to approve
essential virements in relation to recharges and year end process,
as detailed in section 10 of the report be approved.

12.  
That the write-off of debts against the expected credit loss
provision as detailed in Appendix 5 to the report be approved.

13.  
That the General Fund Budget Risks 2023-2024 register as detailed
in Appendix 7 to the report be approved.

 
14.  
That the establishment of supplementary budgets within 2023-2024 as
detailed in Section 7 of the report be approved.