Decision details

RESOLVED;

General Fund

1)    Note the revenue outturn position of +£7.3m overspend for 2023/24

2)    Note the year end position on reserves and balances of £61.2m (excluding Statutory Reserves), particularly that the level of general reserve at £25m is the desirable level on a risk based approach as presented to Members in the 2024/25 budget report;

3)    Note the application of the Councils flexible capital receipts strategy to the value of £3.3m applied against eligible transformation costs in 2023/24;

4)    Note the regular monitoring and review of corporate reserves in 2024/25 to be reported to Cabinet as part of the Quarterly financial monitoring cycle;

5)    Note the year end deficit position on the Collection Fund of £8m, along with the position on the DSG as part of the Council’s Safety Valve agreement.

HRA

6)    Note the HRA revenue outturn position of +£1m deficit for 2023/24 and the year end reserves balance of £33.9m;

Capital

7)    Note the Council capital outturn position at £148.2m for 2023/24

8)    Note the £22.3m capital slippage from 2023/24 to 2024/25 paragraph 3.6.13 of the appended report;

9)    Note the revised capital plan for the period 2024/25 onwards after taking into account the re-phasing of schemes and additional grant funding assumptions (Appendix 2a: Summary Capital Plan and Appendix 2b: Detailed Capital Plan of the appended report);

10)Approve £0.75m additional borrowing for the in-house fleet for home to school transport pilot (Appendix 3 of the appended report);

11)Approve the extension of the existing Property Investment Fund loan facility for Kingsgate shopping centre for a further 9 months, at the prevailing interest rate (cost neutral for the Council) (Appendix 3 of the appended report);

12)Approve the use of £0.14m Libraries Improvement Grant Fund towards spend on the Kirklees Open Access pilot project (Appendix 3 of the appended report);

Treasury Management

13) Note the Review of Treasury Management activity for 2023/24 (Appendix 4 of the appended report);