Agenda item

8.1

This report brings the Committee up to date with the Council’s outturn position for 2023/24 including General Fund revenue position, Housing Revenue Account and Capital Programme Monitoring (Appendix 1). The report also provides an update of the Council’s Treasury Management activity (Appendix 2) and the Collection Fund Account (Appendix 3).

8.2

RESOLVED UNANIMOUSLY: That the Finance Committee:-

a)    notes the updated information and management actions provided by this report on the 2023/24 Revenue Budget Outturn as described in this report;

b)    notes the updated information and management actions provided by this report on the Q2 2023/24 Capital Programme Monitoring as described in Appendix 1;

c)     notes the Treasury Management report for Q2 2023/24 as described in Appendix 2; and

d)    notes the Collection Fund monitoring report for Q2 2023/24 as described in Appendix 3.

8.3

Reasons for Decision

8.3.1

To record formally changes to the Revenue Budget and the Capital Programme.

8.4

Alternatives Considered and Rejected

8.4.1

The Council is required to both set a balance budget and to ensure that in-year income and expenditure are balanced. No other alternatives were considered.

8.1

The Head of Accounting presented a report that brought the Committee up to date with the Council’s outturn position for 2023/24 including the General Fund revenue position, Housing Revenue Account and Capital Programme Monitoring (Appendix 1). The report also provided an update of the Council’s Treasury Management activity (Appendix 2) and the Collection Fund Account (Appendix 3).

8.2

Officers agreed to provide members with further information on the RAG rated savings and the impact of the new VOIDs team as well as briefings on the school budget positions, Transformation Fund and the reviews being undertaken as part of the budget process.

8.2

RESOLVED UNANIMOUSLY: That the Finance Committee:-

a)    notes the updated information and management actions provided by this report on the 2023/24 Revenue Budget Outturn as described in this report;

b)    notes the updated information and management actions provided by this report on the Q2 2023/24 Capital Programme Monitoring as described in Appendix 1;

c)     notes the Treasury Management report for Q2 2023/24 as described in Appendix 2; and

d)    notes the Collection Fund monitoring report for Q2 2023/24 as described in Appendix 3.

8.3

Reasons for Decision

8.3.1

To record formally changes to the Revenue Budget and the Capital Programme.

8.4

Alternatives Considered and Rejected

8.4.1

The Council is required to both set a balance budget and to ensure that in-year income and expenditure are balanced. No other alternatives were considered.