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Decision details

Finance Exception Report (P10)

Decision Maker: Cabinet

Decision status: Recommendations Approved

Is Key decision?: Yes

Is subject to call in?: Yes


To present Cabinet with the latest detailed financial outturn report and identify any additional financial approvals that are required.


That Cabinet noted:

·       The General Fund forecast £6.9m adverse outturn variance against the approved budget for 2023/24 (see Appendices A1, A2 and A4).

·       The performance on delivery of savings (as summarised in Appendix A1 Section 3).

·       The General Fund additional net risk of £0.4m against which Executive Directors plan to mitigate in full (as summarised in Appendix A1 Section 4).

·       A forecast overspend of £3.2m within the HRA and that over- or under-spends that materialise on the HRA will be funded by a transfer from or to the HRA general reserve at the end of the financial year.

·       A forecast in-year deficit of £16.4m accumulating to a total £56.1m carried forward deficit in the DSG for 2023/24.

·       A breakeven position on Public Health services.

·       A forecast £25.4m underspend against the revised GF and HRA Capital Programme’s Budget (Appendix A1 Section 6).

·       The urgent key decision taken by the council’s S151 Officer (in consultation with the Cabinet Member for City Economy, Finance and Performance) to accept and spend £825,416 grant funding from the DfE to deliver Befriending to Care Leavers and Family Finding to children in care and to procure and award contracts for expenditure of that funding.

Report author: Tom Little

Publication date: 05/03/2024

Date of decision: 05/03/2024

Decided at meeting: 05/03/2024 - Cabinet

Effective from: 13/03/2024

Accompanying Documents: