Purpose

To provide an
integrated finance and performance update against the Our City: Our
Plan priorities, and the Medium Term Financial Strategy; and to
provide the draft budget strategy for 2024-2025, with reference to
current information about the in-year budget monitoring

Content

That Cabinet notes:
1.   
That early indications are that there are
some emerging cost pressures in 2023-2024, mainly around increased
demand and inflationary pressures as detailed in the
report.  These would be monitored, and
an update would be provided in future reports to
Councillors.
 
2.   
That early indications are that the outturn for 2023-2024 Housing
Revenue Account (HRA) would be within budget.
 
3.   
That work is ongoing to set a balanced budget for 2024-2025 and
would continue to identify measures which would provide a
sustainable medium-term strategy.
 
4.   
That the Strategic Risk Register was approved by Cabinet on 12 July
2023 is detailed in Appendix 7 to the report.
 
5.   
That 47 sundry debt accounts totalling £30,845.08, as
detailed in Appendix 3 to the report, have been approved for
write-off by the Director of Finance in accordance with the
Council’s Financial Procedure Rules.
 
6.   
That 573 council tax accounts totalling £420,213.78, as
detailed in Appendix 3 to the report, have been approved for
write-off by the Director of Finance in accordance with the
Council’s Financial Procedure Rules.
 
7.   
That 39 Non-Domestic Rates (NDR) debts totalling £343,795.56,
as detailed in Appendix 3 to the report, have been approved for
write-off by the Director of Finance in accordance with the
Council’s Financial Procedure Rules.
 
8.   
That 13 housing benefit overpayments totalling £2,261.53 as
detailed in Appendix 3 to the report, have been approved for
write-off by the Director of Finance in accordance with the
Council’s Financial Procedure Rules.
 
That Cabinet:
1.   
Approve the use of £1.1 million from the Licencing Reserve as
detailed in paragraph 8.5 of the report and establishment of associated
supplementary budgets.

 
2.   
Approve the use of £367,000 from the Regeneration Reserve as
detailed in paragraph 8.6 of the report and establishment of
associated supplementary budgets.

 
3.   
Approve the use of £281,000 from the Adult Social Care
Reserve as detailed in paragraph 8.7 of the report and
establishment of associated supplementary budgets.
 
4.   
Approve the use of £103,000 from the Youth Opportunities
Reserve as detailed in paragraph 8.8 of the report and
establishment of associated supplementary budgets.
 
5.   
Approve the use of £104,000 from the Efficiency Reserve as
detailed in paragraph 8.9 of the report and establishment of
associated supplementary budgets.

 
6.   
Approve 38 virements totalling £6.5 million, for transfers
within directorates, as detailed in Appendix 9 to the report.
 
7.   
Approve the write-off of three Sundry debts totalling
£171,225.85 as detailed in Appendix 4 to the report.

 
8.   
Approve the write-off of four Council Tax debts totalling
£25,858.54 as detailed in Appendix 5 to the report.

 
9.   
Approve the write-off of two Non-Domestic Rates (NDR) debts
totalling £41,357.30 as detailed in Appendix 6 to the
report.

 
10. Approve the General Fund
Budget Risks 2023-2024 register as detailed in Appendix 8 to the
report.

 
11. Approve the establishment of
supplementary budgets within 2023-2024 as detailed in Section 7 of
the report.