Decision details

The Cabinet will be asked to consider the projected position of the Council’s revenue and capital budgets for 2023/24 and, if necessary, consider proposals for in-year adjustments aimed at achieving a balanced budget position at the year end.

Cabinet resolved to:

(i)  Note the projected £14.579m revenue overspend forecast for the General Fund for the 2023/24 financial year, as set out in sections 2 and 3 and Appendix A of the report;

(ii)  Note the projected £7.5m revenue overspend forecast for the Housing Revenue Account, as set out in section 4 and Appendix A of the report;

(iii)  Approve the changes to the Capital Programme as detailed in paragraph 5.2 of the report, resulting in revised budgets of £353.256m for 2023/24, £155.863m for 2024/25 and £95.384m for 2025/26;

(iv)  Note the forecast outturn for the 2023/24 Capital Programme, as set out in paragraph 5.3 of the report;

(v)  Note the issues set out in paragraphs 5.4 to 5.6 of the report regarding the handover and letting of new properties, particularly concerning private rental schemes, and the steps being taken to remedy the issues; and

(vi)  Approve virements from the central budget provision totalling £2.718m, as detailed in section 6 of the report.