Decision details

RESOLVED:

1.  That the interdepartmental budget movements that exceed £275k, as shown in Appendix 1 of the report be approved.

2.  That the housing revenue account (HRA) overspend of £16.4m and the mitigating actions, including additional borrowing required for asset management be noted.

3.  That the utilisation of the £4m contingencytogether with £1.4m of risk reserve to offset the overall adverse variance and present a balanced general fund outturn position for 2023-24 be noted.

4.  That the key adverse variations and budget pressures and mitigating actions underlying the outturn position be noted:

(i)  Housing revenue account (paragraphs 13-28 of the report)

(ii)  Home to school transport (paragraph 45 of the report)

(iii)  Pressures in the No Recourse to Public Funds (NRPF) (paragraph 58 of the report)

(iv)  The continuing budget pressures on temporary accommodation

(paragraphs 75-76 of the report).

5.  That the interdepartmental general fund budget movements that are less than £275k as shown in Appendix 1 of the report be noted.

6.  That the positive variance of £1.98m in the ring-fenced dedicated schools grant (DSG) reducing the overall deficit to £9m as at 31 March 2024 (paragraph 47 of the report) be noted.