Issue - meetings
Financial Outturn Report 2023/2024, to include the Revenue, Capital and Housing Revenue Account Outturn Position and Annual Report on Treasury Management
Meeting: 09/07/2024 - Cabinet (Item 17:)
PDF 4 MBTo give consideration to the Financial Outturn and Rollover Report 2023/24
Wards Affected: All
Contact: James Anderson – Head of Accountancy
Decision:
RESOLVED –
1) That in relation to the General Fund, the revenue outturn position of +£7.3m overspend for 2023/24 be noted.
2) That 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 be noted.
3) That the application of the Councils flexible capital receipts strategy to the value of £3.3m applied against eligible transformation costs in 2023/24 be noted.
4) That the regular monitoring and review of corporate reserves in 2024/25 to be reported to Cabinet as part of the Quarterly financial monitoring cycle be noted.
5) That 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 be noted.
6) That in relation to the Housing Revenue Account, the HRA revenue outturn position of +£1m deficit for 2023/24 and the year-end reserves balance of £33.9m be noted.
7) That in relation to Capital, the Council capital outturn position at £148.2m for 2023/24 be noted.
8) That the £22.3m capital slippage from 2023/24 to 2024/25 (as outlined at paragraph 3.6.13) of the considered report be noted.
9) That the revised capital plan for the period 2024/25 onwards, after taking into account the re-phasing of schemes and additional grant funding assumptions, be noted.
10)That it be recommended to 17 July 2024 Council meeting for the £0.75m additional borrowing for the in-house fleet for home to school transport pilot.
11)That 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) be recommended for approval to 17 July 2024 Council meeting.
12)That the use of £0.14m Libraries Improvement Grant Fund towards spend on the Kirklees Open Access pilot project be recommended for approval to 17 July 2024 Council meeting.
13)That the Review of Treasury Management activity for 2023/24 be noted.