Agenda item

Revenue Budget Monitoring 2023/24 - Quarter Three

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 third revenue budget management report to Cabinet for 2023/24 and that the latest projections showed an overall decline of £0.738m on the 2023/27 Medium Term Financial Plan, however, this was an improvement of £0.381m compared with Quarter Two (Minute C64/Nov/23refers) which was due to £0.509m of additional balances following the 2022/23 outturn, £1.2m of resources returned to reserves and a £0.225m improvement in corporate reserves, offset by £2.672 of projected departmental overspends in 2023/24.


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


(b)  That the carry forward of resources, as detailed in paragraphs 18 to 20, be noted and approved.


(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.


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