The Executive considered a report in respect of the third quarter monitoring of the Revenue and Capital budgets 2023/24 (General Fund and Housing Revenue Account).
The Chair advised Members of a correction to the table contained in Paragraph 4.2.3 of the report. The figure in the “Less core resources at Budget Setting Report” row should read “(12,380)” instead of “(12,335)”, and hence the figure in the “Transfer (to)/from General Fund balances” rows should read “1,363” instead of “£1,408”.
It was RESOLVED:
General Fund
1. That the 2023/24 3rd Quarter projected net increase in General Fund expenditure of £171,980 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 note 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 3rd Quarter net increase in HRA expenditure of £1.002Million 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.
Capital Programme
6. That the General Fund capital budget re-phasing of £10.6Million from 2023/24 to future years be approved.
7. That the Housing Revenue Account capital budget re-phasing of £2.3Million from 2023/24 to future years be approved.
Reason for Decision: As contained in report.
Other Options considered: As contained in report.