Decision details

Policy and Resources Strategy: Revenue Monitoring Report, Month 4 2023-24

Decision Maker: Cabinet

Decision status: Recommendations Approved

Is Key decision?: Yes

Is subject to call in?: Yes


To note the forecast revenue outturn position


It was noted that an addendum report had been circulated to correct the reported forecast outturn position set out in recommendation 1 and Table 1 of the report.




That the following be noted:


1.  The adverse variance forecast of £3.5m for the general fund in 2023-24.


2.  The key general fund variations and budget pressures:


(i)  Budgetary pressure of £2.4m in education, mainly driven by higher demand and cost pressures in home to school transport (paragraph 51 of the report)


(ii)  £1.6m pressure in environment, neighbourhoods and growth department, due mainly to significant increases in ‘no recourse to public funds’ (NRPF) costs (paragraph 59 of the report)


(iii)  The continuing budget pressure in homelessness (paragraphs 36-40 of the report).


3.  The housing revenue account forecast for 2023-24 is a deficit of £13.8m (Table 2, paragraphs 19 -31 of the report).


4.  The ongoing inclement macro-economic environment, with inflation running at 7.9% in June 2023 and interest rates increased 14 times in row to 5.25%, the highest since 2008.


5.  The ring-fenced dedicated schools grant (DSG) is forecasting an unfavourable outturn of £0.6m which is mainly due to pressures within the high needs service (paragraphs 55-57 of the report).


That the following be approved:


6.  The interdepartmental budget movements that exceed £250k, as shown in Appendix A of the report (noting those under this threshold).

Report author: Clive Palfreyman

Publication date: 13/09/2023

Date of decision: 12/09/2023

Decided at meeting: 12/09/2023 - Cabinet

Effective from: 21/09/2023

Accompanying Documents: