Decision details

1.

Title of Item/Report

MTFP

2.

Record of the Decision

Consideration was given to a report on the draft financial performance and position as at 31 March 2024.

The overall financial position was similar to the position projected at the end of December 2023, as outlined in the Budget report in February 2024, with a variance of £163,000 from the previously reported position. 

Actions taken to manage the overspend of £7m were agreed as part of the budget report, and the position had continued to be carefully monitored.

Members were aware of the financial pressures going forward with the Powering our Futures Programme integral to identifying opportunities for resolving the gap. Further reports would be presented throughout the year providing updates.

The Capital Programme had been updated to incorporate new schemes and reflect those schemes completed as at the financial year end.

RESOLVED that the outturn position for the year ended 31 March 2024 and the updated Capital Programme be noted.

3.

Reasons for the Decision

To update Cabinet on the Medium Term Financial Plan, including the outturn position for 2023/24.

4.

Alternative Options Considered and Rejected

None

5.

Declared (Cabinet Member) Conflicts of Interest

None

6.

Details of any Dispensations

None

7.

Date and Time by which Call In must be executed

N/A