Issue - decisions

Financial Outturn Report 2023/24

14/06/2024 - Financial Outturn Report 2023/24

That Cabinet:

 

1.     Notes the net spend in 2023/24 and the consequent residual net revenue overspend of £7.314m for the organisation at the end of the year;

2.     Note the explanations and mitigating actions for variations to budgets, and the implications for the Medium-Term Financial Strategy, as set out in Appendix A to the report;

3.     Notes the delivery of £12.846m (84.75%) savings in 2023/24, a shortfall of £2.312m against the target, as set out in Section 4 of the report;

4.     Approves the drawdown of £0.227m from Earmarked Reserves to support the delivery of the Council Plan in 2024/25, as outlined in paragraph 6.9 of the report and Appendix D to the report;

5.     Approves the drawdown of £1.598m from the Revenue Investment Funds to support the delivery of the Council Plan in 2024/25, as outlined in Section 5 of the report and Appendix C to the report;

6.     Notes the capital spend in 2023/24 of £175.518m; and

7.     Approves the reprofiling of £43.496m Services capital spend from 2023/24 into future years.