Purpose

To report on the
Council’s outturn position for 2023-2024 compared with
approved budgets and targets and performance update against the Our
City: Our Plan priorities.

Content

1.     
That it be noted that the overall, revenue position for 2023-2024
is an overspend of £1.1 million (0.36%).   The overspend is funded from a combination
of one-off grants and additional use of capital
receipts. 

2.     
That it be noted that the Housing
Revenue Account (HRA) revenue outturn for the year was in a
balanced position at the end of the year after making provision for
debt redemption and capital financing of £15.1
million.

3.     
That it be noted that the capital programme has an outturn position
of £69.5 million for the General Fund and £115.0
million for the Housing Revenue Account (HRA). A summary of the
outturn is detailed in section 9 of the report. A full detailed
report on the Capital Outturn 2023-2024 including Quarter One
Capital Monitoring 2024-2025 would be reported to Cabinet in July
2024.
 

4.     
That it be noted that reserves and provisions held by the Council
as at 31 March 2024 are included under a
separate report on this agenda.  The
outturn position detailed in this report assumes that the year-end
reserve approvals outlined the Reserves and Provision report are
approved.  

5.     
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.
 

6.     
That the performance against the key indicators as set out in
Appendix 1 to the report be approved.

7.     
That the write-off debts against expected credit loss provision as
detailed in Appendix 5 to the report be approved.

8.     
That the Strategic Risk Register as detailed in Appendix 6 to the
report be approved.