Decision details

Revenue Management Report Quarter 3

Decision Maker: Cabinet

Decision status: Decision Made

Is Key decision?: No

Is subject to call in?: Yes

Purpose:

To receive the financial position as at the end of December 2023.

Decision:

RESOLVED –

 

1.    That at Quarter 3 net expenditure on services year to date was £10,062,000, £760,000 less than budget be noted.

2.    That by year end the Council anticipated net expenditure of £14,464,000 on services, a forecast of £2,507,000 under budget be noted.

3.    That by year end the Council anticipated receiving an increase in funding of £2,840,000 due to additional investment and government grants. An improvement of £5,347,000.  That £4,249,000 will be transferred to earmarked reserves and £943,000 will reduce the budget deficit that was to be met from reserves, and that the remaining £155,000 is assumed at present to be transferred to the General Fund be approved. 

 

REASON FOR DECISION: To show the actual expenditure on services compared to the revised budget for the period ending 31 December 2023, and the forecast outturn position, highlighting significant variances from the revised annual budget

Report author: Jane Fineman

Publication date: 21/03/2024

Date of decision: 21/03/2024

Decided at meeting: 21/03/2024 - Cabinet

Effective from: 03/04/2024

Accompanying Documents: