Agenda item

Report of Assistant Director of Finance (Section 151 Officer) and Assistant Director – Customer Focus, Shona Ware

Purpose of report

To report to Executive the council’s performance, risk, and financial positions at the end of the financial year 2023-2024.

Recommendations

The Executive resolves:

1.1         To consider and note the contents of the council’s performance, risk and outturn for the financial year ended 31 March 2024.

1.2         To approve the use of reserve requests held within Appendix 5.

1.3         To note the reserves movements made under the S151’s delegated powers as part of the audit of prior years’ statement of accounts at Appendix 5.

1.4         To approve the reprofiled capital budget described in Appendix 1, including corresponding financing from capital reserves, and adjust the 2024/25 capital programme accordingly.

1.5         To note outturn for 2023/2024 which is a balanced position after a contribution to reserves of £4.461m.

1.6         To approve the use of £0.285m of the Commercial Risk element of Policy Contingency to mitigate the delay in forecast lettings for some properties within 2023/24.

Resolved

(1)          That the council’s performance, risk and outturn for the financial year ended 31 March 2024 be noted.

(2)          That the use of reserve requests set out at Appendix 5 to the report be approved.

(3)          That  the reserves movements made under the S151’s delegated powers as part of the audit of prior years’ statement of accounts be noted.

(4)          That the reprofiled capital budget described in Appendix 1, including corresponding financing from capital reserves, be approved and the 2024/25 capital programme be adjusted accordingly.

(5)          That outturn for 2023/2024, which is a balanced position after a contribution to reserves of £4.461m, be noted.

(6)          That the use of £0.285m of the Commercial Risk element of Policy Contingency to mitigate the delay in forecast lettings for some properties within 2023/24 be approved.

The Assistant Director of Finance (Section 151 Officer) and Assistant Director – Customer Focus submitted a report on the council’s performance, risk, and financial positions at the end of the financial year 2023-2024.

Resolved

(1)          That the council’s performance, risk and outturn for the financial year ended 31 March 2024 be noted.

(2)          That the use of reserve requests set out the Annex to the Minutes (as set out in the Minute Book) be approved.

(3)          That  the reserves movements made under the S151’s delegated powers as part of the audit of prior years’ statement of accounts be noted.

(4)          That the reprofiled capital budget described the Annex to the Minutes (as set out in the Minute Book), including corresponding financing from capital reserves, be approved and the 2024/25 capital programme be adjusted accordingly.

(5)          That outturn for 2023/2024, which is a balanced position after a contribution to reserves of £4.461m, be noted.

(6)          That the use of £0.285m of the Commercial Risk element of Policy Contingency to mitigate the delay in forecast lettings for some properties within 2023/24 be approved.

Reasons

This report provides a summary of the council’s delivery against its business plan priorities including its, risk, and financial positions for the 2023/24 financial year.

Alternative options

Option 1: This report summarises the council’s performance, risk and financial positions for the 2023/2024 financial year, therefore there are no alternative options to consider.