Agenda item

Report of the Group Director of Operations.

The Cabinet Member with the Resources Portfolio introduced the report of the Group Director of Operations (previously circulated) providing an early forecast of the 2023/24 revenue budget outturn as part of the Council’s continuous financial management process.

The submitted report stated that it was the first revenue budget management report to Cabinet for 2023/24 and that the latest projections showed an overall decline of £0.773m on the 2023/27 Medium Term Financial Plan, which was due to £2.167m of departmental pressures, offset by £1.2m of resources returned to reservices; £0.509m of additional balances following the 2022/23 outturn; and a decline in corporate reserves of £0.315m.

Particular reference was made at the meeting to when the Medium Term Financial Plan would be reviewed.  The Leader and the Cabinet Member with the Resources Portfolio responded thereon.

RESOLVED - (a)  That the forecast revenue outturn for 2023/24, as detailed in the submitted report, be noted.

(b)  That further regular reports be made to monitor progress and take prompt action if necessary.

REASONS - (a)  To continue effective management of resources.

(b)  To continue to deliver services to agreed levels.