Issue - decisions

Finance, Performance and Risk Monitoring Report

22/11/2023 - Finance, Performance and Risk Monitoring Report

Cllr Lynden Stowe provided an update to Cabinet on the year-end forecast for the 2023/24 County Council’s Revenue and Capital Budget and reported on the Council’s performance and risk during Quarter 2 of 2023/24.



Having considered all of the information, Cabinet noted the report and





1. Note the forecast revenue year end position based on Quarter 2 forecasts for the 2023/24 financial year is an overspend of £1.357 million.

2. Approve the drawdown of £3.289m from Pay & Prices reserve to fund the additional pay award as set out in paragraph 3.

3. Note the forecast delivery of £16.076 million of savings against a target of £21.101 million in 2023/24 or 76.18% of target.

4. Note the forecast capital year end position as at Quarter 2, of £154.800 million against a current budget of £157.245 million.

5. Note the intention to re-profile the capital budget to reflect the current forecast.

6. Approve the £4.923 million increase to the capital programme as detailed in Section C.

7. Note Section D Treasury Management Prudential Indicators

8. Note the planned process set out in paragraph 52, for commencing the consultation for the 2024/25 Budget.

9. Consider this report of the Council’s performance and risks and identifies any areas of concern requiring further analysis, assurance or action.