Issue - meetings

This report sets out the projected 2023/24 financial position and the performance position for the period covering 1 April 2023 to 30 September 2023. This is the second report of the financial year and assesses performance against budgets, including progress in delivering the Council’s savings programme.

Resolved:

                         i.         Note the finance and performance information.

Reason:     To ensure expenditure is kept within the approved budget.

The Chief Finance Officer introduced the report, highlighting that the Council had a forecast overspend of £11.1m, with mitigations identified which would reduce the forecast net overspend to £1.1m. She noted that should savings not be identified the Council would need to use reserves, to meet the required savings she also suggested that there should be an expectation of a reduction in some services.

The Executive Member for Finance, Performance, Major Projects and Equalities noted that the Council was in a difficult position similar to many local authorities across the country. She highlighted austerity and a lack of a fair funding review from central government had significantly affected the Council. She confirmed that the Executive would aim to make decisions on the Council budget in line with the Council Plan.

Resolved:

                      i.         Note the finance and performance information.

Reason:     To ensure expenditure is kept within the approved budget.