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 a 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 second revenue budget management report to Cabinet for 2023/24 and that the latest projections showed an overall decline of £1.119m on the 2023/27 Medium Term Financial Plan, which was due to £0.509m of additional balances following the 2022/23 outturn; £1.2m of resources returned to reserves; £2.602m of projected departmental overspends in 2023/24; and a decline in corporate reserves of £0.226m.

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.