Issue - meetings

To receive a report presenting details of Quarter 4 of the Council’s projected financial performance for 2023/24.

Executive Councillor: B Mickelburgh.

The Cabinet has considered and commented upon the revenue financial performance for the financial year 2023/24 (as detailed in Appendix 1 and summarised in paragraph 3.2 of the submitted report) and considered and commented upon the capital financial performance for the financial year (as detailed in Appendix 2 and summarised in paragraph 3.3 of the submitted report).

By means of a report by the Director of Finance and Corporate Resources (a copy of which is appended in the Minute Book) the Cabinet considered the Council’s revenue and capital financial performance for the financial year 2023/24. The figures were consistent with the draft Financial Statement and were better than forecast.

At the request of the Leader, the Director of Finance and Corporate Resources outlined the order of the deficit predicted in the Medium-Term Financial Strategy from year 3 in the context of national trends. On an associated question by Councillor Pitt about the Council’s approach in this respect, the Leader recognised the future was challenging and this reinforced the need for good financial stewardship.

Regarding the discussions that took place at the Overview and Scrutiny Panel meeting, Councillor Mickelburgh reported that he had expressed his displeasure to the External Auditor over their fees and stated that the Council expected to receive value for money.

Members were alerted to a forthcoming report to Overview on Scrutiny on the Council’s productivity plans and how the Council would improve the use of funding and reserves. Having noted the reasons for the variances in the Capital Programme, it was

RESOLVED

  that the report be received and noted.