Decision details

RESOLVED –

1.               That Cabinet noted the for the outturn position in respect of the 2023-24 financial year.

2.               That Cabinet approve the proposed carry forward of capital budgets detailed in Appendix 4 totalling £17.193m.

REASONS FOR DECISION – During 2023/24 the Council managed its budget effectively securing a favourable financial position on net cost of services of £0.525m underspend despite a continuing challenging financial backdrop. This underspend has meant that rather than having to call on reserves it has been possible to make a contribution of £0.244m to the Resilience reserve at outturn from efficiencies identified during the year.

OTHER OPTIONS CONSIDERED AND REJECTED - The financial outturn report for 2023/24 is primarily a factual report detailing the actual position compared to previously approved budgets therefore there are no alternative options that need to be considered.

Please note that this was not a Key Decision and so can be implemented with immediate effect by officers.