Decision details

To consider the third quarter Revenue & Capital Monitoring forecast and to consider any specific recommendations on the application of resources in-year, including movements to and from reserves, as required by financial procedure rules.

RESOLVED –

1)    That the forecast revenue outturn position at Quarter 3 for 2023/24 (£9.9m overspend), and the forecast year end position on the Council’s reserves and balances: £55.8m Reserves, of which £43.8m were Usable Reserves (£47.4m Reserves, of which £35.4m were Usable at Q2) be noted.

2)    That the Quarter 3 forecast HRA position (£600k surplus) and forecast year-end reserves position be noted.

3)    That the Quarter 3 forecast capital monitoring position for 2023/24 with regards to Capital (£2.7m underspend) be noted.

4)    That approval be given to the re-profiling of the 2023/24 capital plan reduction since Council Budget Report of £27.8m being

(i)             +£1.24m grants (Housing DFG/Climate Emergency/Active Travel Fund)

(ii)            -£29.1m re-profile (£13.8m/self-financed, £11.5m grants/S106, £0.7m receipts, HRA RCCO/Reserves £3.1m)

5)    That the Quarter 3 treasury management prudential indicators be noted.