Decision details

Finance Exception Report (P9)

Decision Maker: Cabinet

Decision status: Information Only

Is Key decision?: Yes

Is subject to call in?: No

Purpose:

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

Decision:

That Cabinet noted:

·       The General Fund forecast £5.5m adverse outturn variance against the approved budget for 2023/24.

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

·       The General Fund additional net risk of £0.6m against which Executive Directors plan to mitigate in full (as summarised in Section 4).

·       A forecast overspend of £2.1m 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 £10.4m underspend against the revised Capital Programme’s Budget (Section 6)

Report author: Sarah Chodkiewicz

Publication date: 06/02/2024

Date of decision: 06/02/2024

Decided at meeting: 06/02/2024 - Cabinet

Accompanying Documents: