Decision details

That the Corporate Finance and Governance Portfolio Holder hereby:

(a)     notes the financial outturn position for 2023/24 as set out in this report and appendices;

(b)     approves the financing of General Fund capital expenditure for 2023/24 as detailed in Appendix D;

(c)     approves the movement in uncommitted and earmarked General Fund reserves for 2023/24 set out in Appendix E;

(d)     approves the General Fund revenue carry forward items totalling £9.879m (as set out in column 4 of Appendix K), with budgets for the remaining items totalling £2.732m (as set out in column 5 of Appendix K) being transferred to the relevant earmarked commitments reserve pending further consideration;

(e)     requests Officers, subject to (d) above, to provide additional information relating to the unapproved General Fund revenue carry forwards totalling £2.732m to enable them to be considered further and that these will be subject to separate / further decisions later in the year as necessary;

(f)      approves the General Fund capital carry forwards totalling £12.010m as set out in Appendix D;

(g)     in respect of the HRA, approves the movement on HRA balances for 2023/24 including any commitments set out within Appendices H and/or I along with recharges to the HRA from the General fund of £2.811m for the year and the financing of the HRA capital expenditure set out in Appendix I;

(h)     notes the overall General Fund outturn variance of £1.829m for 2023/24 that is  being carried forward via the Revenue Commitments Reserve, and:

i)   recommends to Cabinet that £0.259m of this overall General Fund variance that relates to the net outturn surplus on Off-Street Parking ‘Account’ is set aside for investment in that Service; and

ii)  agrees that the remaining balance of £1.570m is set aside to support the items included in Table 3 within this report and that final proposals be recommended to Cabinet when they consider the Portfolio Holder for Finance and Governance’s Outturn report at their meeting on 26 July 2024.

To set out the final financial position of the Council for 2023/24 and to seek approval of the associated end of year accounting / technical adjustments and processes.

None