Issue - meetings
SECOND QUARTER REVENUE BUDGET MONITORING 2023/24
Meeting: 15/11/2023 - Executive (up to May 2024) (Item 6)
6 SECOND QUARTER REVENUE BUDGET MONITORING 2023/24 
PDF 918 KB
To consider the Second Quarter Revenue Budget Monitoring report 2023/24.
Decision:
The Executive considered a report in respect of the Second Quarter Revenue Budget Monitoring 2023/24.
It was RESOLVED:
General Fund
1. That the 2023/24 Second Quarter projected net increase in General Fund expenditure of £1,850 be approved.
2. That it be noted that the cumulative changes made to the General Fund net budget remains within the £400,000 increase variation limit delegated to the Executive.
3. That the proposed movement on reserves, as detailed in Paragraph 4.2.1 of the report, be noted.
Housing Revenue Account (HRA)
4. That the 2023/24 Second Quarter projected net budget underspend in the HRA of £1,229,920 be approved.
5. That it be noted that the cumulative increases made to the HRA net budget remains within the £400,000 variation limit delegated to the Executive in the January 2023 budget report.
Reason for Decision: As contained in report.
Other Options considered: As contained in report.
Minutes:
The Executive considered a report in respect of the Second Quarter Revenue Budget Monitoring 2023/24.
In the absence of the Portfolio Holder for Resources and Transformation, the Portfolio Holder for Housing & Housing Development advised that the report highlighted a net increase for the General Fund of £1,850 and a net underspend of £1,229,920 for the Housing Revenue Account. She added that both the General Fund and HRA remained within their variation limits as delegated to the Executive by Council.
It was RESOLVED:
General Fund
1. That the 2023/24 Second Quarter projected net increase in General Fund expenditure of £1,850 be approved.
2. That it be noted that the cumulative changes made to the General Fund net budget remains within the £400,000 increase variation limit delegated to the Executive.
3. That the proposed movement on reserves, as detailed in Paragraph 4.2.1 of the report, be noted.
Housing Revenue Account (HRA)
4. That the 2023/24 Second Quarter projected net budget underspend in the HRA of £1,229,920 be approved.
5. That it be noted that the cumulative increases made to the HRA net budget remains within the £400,000 variation limit delegated to the Executive in the January 2023 budget report.
Reason for Decision: As contained in report.
Other Options considered: As contained in report.