Issue - meetings

A report providing financial progress information on the General Fund and Special Expenses for period 1 April to 30 September 2023.

Cabinet NOTED the year end forecast and financial position for the General Fund both general and Special Expenses at 30 September 2023 for both revenue and capital.

The Portfolio Holder for Corporate Finance Property and Resources introduced the report, the purpose of which was to provide financial progress information on the General Fund and Special Expenses for period 1 April to 30 September 2023.

The Portfolio Holder for Corporate Finance Property and Resources highlighted to members that though the forecast currently is good for this year’s budget, that is due to the grant income received, which is a one-off, and high interest rates wielding good returns on our investments, which are due to drop by the end of next year. Along with the uncertainty of funding from central government, Members need to be aware there could be some tough decisions needed to be made for next year.

Cabinet:

1)     NOTED the year end forecast and financial position for the General Fund both general and Special Expenses at 30 September 2023 for both revenue and capital.

Reason for recommendation:

The Council, having set an agreed budget at the start of the financial year needs to ensure that the delivery of this budget is achieved. 

Consequently, there is a requirement to regularly monitor progress so that corrective action can be taken when required, which is enhanced with the regular reporting of the financial position.