Decision details

This report details the 2023/24 outturn position and the summary outturn position for 2022/23 and provides an update on the overall financial reporting and audit position.

RESOLVED:

That the Cabinet:

1.    Approve the report outlining the current year end underspend of £458,000 for 2023/24, and the detail set out in Appendix A within the report, and the transfer of the surplus to reserves;

2.    Note that the Draft Statement of Accounts for 2023/24 had been finalised and published on 30 May 2024 in line with the regulatory requirements, with the External Audit due to commence shortly as recently reported to Audit and Governance Committee.;

3.    Note the final revenue position of 2022/23, which was an underspend of £155,868 transferred to reserves, as set out in Appendix B within the report;

4.    Note that the 2022/23 Statement of Accounts had been audited and signed off by the External Auditor, as reported to the Audit and Governance Committee

5.    Recommend that Full Council approve the reserves transactions and balances for 2023/24, as set out in Table 4 of Appendix A within the report;

6.    Recommend that Full Council amend the Capital Programme for 2024/25, as shown in Table 5a to take into account the changes set out in Appendix A within the report; and

7.    Recommend that Full Council approve the reserve transactions and balances for 2022/23, as set out in Table 3 of Appendix B within the report.

To ensure the Council’s year-end financial position for 2022/23 and 2023/24 is considered and related decisions approved. It is important that the Cabinet are aware of the financial position of the General Fund to ensure that they can make informed decisions that are affordable and financially sustainable for the Council.

To not approve the reserve movements and Capital Budget amendments outlined.