Issue - decisions

Revenue and Capital Outturn for the 2023/24 Financial Year

19/06/2024 - Provisional Outturn Report for the Financial Year 2023/24

Cabinet resolved to:

 

(i)  Note that the General Fund provisional outturn position for 2023/24 was £199.568m which, after a net transfer from reserves, represented an overspend of £2.626m against the revised budget of £194.460m, as detailed in section 2 of the report;

 

(ii)  Agree the transfer of £2.626m from the General Reserve to achieve a balanced outturn position for 2023/24;

 

(iii)  Note the Housing Revenue Account (HRA) provisional outturn position for 2023/24 was an overspend of £6.060m which would be met from a reduced contribution to the HRA Capital Reserve, as detailed in section 4 of the report;

 

(iv)  Note that the Dedicated Schools Grant (DSG) provisional outturn position for 2023/24 was an overspend of £2.118m which would be met from the DSG Reserve, as detailed in section 5 of the report;

 

(v)   Note the performance of the Investment Acquisition Strategy (IAS) as set out in section 9 of the report;

 

(vi)  Note that the Capital Programme provisional outturn position for 2023/24 showed an underspend of £5.405m against a revised budget of £340.387m;

 

(vii)  Approve the carry forwards totalling £3.2m to the Capital Programme 2024/25, as detailed in section 11 and Appendices B and C to the report; increasing the capital budget for 2024/25 from £252.1m to £255.3m; and

 

(viii)  Note the update on the progress on the year-end accounts and the work still outstanding, as set out in section 12 of the report.