Issue - meetings

Consideration has been given to the latest monitoring position on the 2023/24 revenue budget at the end of the first quarter and to recommending the Council to approve budget adjustments.

RESOLVED -

(i)

That the Council’s revenue expenditure position at the end of the first quarter, as set out in appendices 1 and 2 of the report be noted.

(ii)

That the Council be recommended to approve:

a)

an amendment to the net revenue budget for 2023/24 from £289,902,826 to £281,884,964;

b)

the removal of pandemic budget and the equivalent reserve funding as presented in appendix 2 to the report; and

c)

a £2.4m increase in the 2023/24 Housing Revenue Account (HRA) budget to reflect the increase in the deprecation charge funded from the HRA reserve.

(iii)

That the budget virement as set out in the report be noted.

The above decisions have been made to contribute to sound financial management and the long-term financial sustainability of the Council.