Issue - meetings

Report of the Executive Director – Corporate Services and Commercial

The Cabinet considered the report of the Executive Director – Corporate Services and Commercial on the revenue and capital outturn position in relation to the 2023/24 financial year. The report outlined key variations and, where appropriate, any impact on future years’ financial performance. In addition, the report provided details of the Council’s Corporate Performance for 2023/24 and current corporate risks.

The following appendices were attached to the report:

·       Appendix A – Corporate Performance Report 2023/24

·       Appendix B – Corporate Risk Register – June 2024

Decisions Made:

That

Revenue Outturn

(1)      the fact that the General Fund net surplus of £4.309m for 2023/24 will increase the Council’s General Balances by £0.114m less than was budgeted for, be noted;

(2)      the increase in Schools’ balances of £2.381m for 2023/24 and the net reduction of non-schools centrally retained DSG balances of £19.489m., be noted;

(3)      the overall deficit on the High Needs Budget of £37.996m. be noted;

(4)      the changes to Earmarked Reserves in 2023/24 be noted.

Capital Programme

(5)      the total capital outturn of £40.937m for the financial year 2023/24 be noted;

(6)      the successful delivery of a number of schemes, as set out in section 10 of the report, which have supported the delivery of the Council’s core purpose, be noted;

Corporate Performance

(7)      the Council’s Corporate Performance Report for 2023/24 and the latest Corporate Risk Register alongside the financial outturn for the year be noted.

Reasons for the Decisions:

The production of a revenue and capital outturn report is a key feature of effective financial management and will allow Members to make informed decisions that will support service delivery and medium-term financial sustainability.

Alternative Options Considered and Rejected:

None.