Decision details

To consider the Quarter 2 Financial Monitoring Report 2023/24.

(a)  That the senior leadership team’s forecast of the full year’s forecast outturn for the Council, made at the end of Quarter 2, including progress of the transformational and tactical savings incorporated into the budget, be noted.

(b)  That Cabinet identify the priority areas for changes to be made to close the in-year budget gap.

(c)  That Portfolio Holder’s work with officers to continue to identify and develop further in-year efficiencies and savings to minimise use of reserves.

(d)  That the capital programme for 2023/24 and updated capital plan for 2023/24 – 2027/28 be noted.

Reason for the decision

The Council has responsibilities to deliver within its corporate plan and it must do this within the resources made available through the revenue and capital budgets for 2023/24.  This report summarised the Council’s forecast financial performance for the year at the end of the second quarter.