Issue - decisions

Council received a report of the Chief Finance Officer, including the minutes from Finance Scrutiny Committee and Cabinet.

Resolved –

1.      To approve the revised capital investment programme of £42.451m for 2024/25, £10.510m for 2025/26 and £4.528m for 2026/27, including rephasing of £6.760m capital budgets from 2023/24 into 2024/25 onwards as set out in Appendix 4.

2.      To approve the Revenue Virements for 2024/25 as set out in Appendix

Cabinet received a late report of the Chief Finance Officer setting out the Finance Monitoring report for the year end of 2023/24.

The Mayor informed members that the report had been presented to Finance Scrutiny Committee at its recent meeting and would be going forward to Council on 16 July.  He had agreed it could be presented this evening.  He invited Councillor Rodrigues to introduce the report.

Councillor Rodrigues explained that the report set out the council’s budget to the end of the Financial Year 2023/24.  It would still be the subject of review by the auditor.  He outlined some of the highlights from the report, including the increased demand for council services, the recruitment freeze and procedure for posts that filling and information about budget savings.

The Mayor thanked the Chief Finance Officer and her team for the compiling the information in the report and its appendices.  He invited the Chief Finance Officer to make additional comments.

The Chief Finance Officer responded that Councillor Rodrigues had covered the key points in the report.  She added that there had been some good news regarding funding during the year which had helped.

The Mayor invited Cabinet to vote on the recommendations as set out in the report including the referral to Council.

Resolved –

1.         that the 2023/24 revenue year end position as summarised at section 4.1 and detailed in Appendix 1 and the year end position are noted. 

2.         that the 2023/24 capital year end position as summarised at section 4.5 and shown in detail in Appendix 4.

3.         that Cabinet recommends to Council to approve the revised capital investment programme of £42.451m for 2024/25, £10.510m for 2025/26 and £4.528m for 2026/27, including rephasing of £6.760m capital budgets from 2023/24 into 2024/25 onwards as set out in Appendix 4.

4.         that Cabinet recommends to Council to approve the Revenue Virements for 2024/25 as set out in Appendix 7.