This section allows you to view the general details of a Decision
Details
Business Item
2023/24 Outturn Financial Performance Report
Date of Decision
Tue 9 Jul 2024
Description
Report of the Cabinet Member with responsibility for Resources and Value for Money
Matter for Decision (to consider...)
See attached report
Service Area
Financial Services, Corporate Performance & Risk Management
Background Papers:
ESC Draft Statement of Accounts 2023/24
Is Decision District Wide
Yes
Decision Made
1. That the Council’s draft outturn position for 2023/24 together with reserves and balances as of 31 March 2024 be noted.
2. That the General Fund revenue budget carry forward requests above £0.030m as set out in paragraph 1.6 of Appendix A be approved.
3. That the HRA revenue budget carry forward requests above £0.030m as set out in paragraph 3.3 of Appendix A be approved.
4. That the areas of financial challenges/focus for 2025/26 budget setting be noted.
Reason for Decision
To provide Cabinet with an overview of the unaudited 2023/24 outturn for the Council’s revenue and capital accounts, before the audited accounts are submitted for approval to the Audit and Governance Committee.
To provide Members with financial information on the Council’s reserves and balances to assist in formulating budget policies and the budget setting process for 2025/26.
Alternative Options Considered and Rejected
The year-end outturn surplus could be transferred to different earmarked reserves but is in line with the original budget proposal. The in-year surplus has arisen due to the favourable position with business rates income. By transferring the surplus to the Business Rates reserve it provides a contingency for anticipated reform of the business
rates system. However, this does not prevent reserve funds being re-purposed as part of the next budget setting round if this is deemed appropriate.
Any Declarations of Interest Declared
None.
Any Dispensation Granted
None.
Decision Criteria
This Decision does not contain any decision criteria records.
Wards
Aldeburgh and Leiston; Beccles and Worlingham; Bungay and Wainford; Carlford and Fynn Valley; Carlton and Whitton; Carlton Colville; Deben; Eastern Felixstowe; Framlingham; Gunton and St Margarets; Halesworth and Blything; Harbour and Normanston; Kelsale and Yoxford; Kesgrave; Kessingland; Kirkley and Pakefield; Lothingland; Martlesham and Purdis Farm; Melton; Orwell and Villages; Oulton Broad; Rendlesham and Orford; Rushmere St Andrew; Saxmundham; Southwold; Western Felixstowe; Wickham Market; Woodbridge; Wrentham, Wangford and Westleton
Topics
This Decision does not contain any Topic records
Overview and Scrutiny
This Decision does not contain any Overview and Scrutiny records.
This section allows you to view the reports for the Decision.
This section displays the history of the Decision.
Decision History
| 25/06/2024 13:31:07 | Lorraine Fitch | Business Item Created | |
| 25/06/2024 13:31:07 | Lorraine Fitch | Committee Added | Cabinet |
| 25/06/2024 13:31:07 | Lorraine Fitch | Meeting Added | 09/07/2024 6:00PM |
| 25/06/2024 13:34:43 | Lorraine Fitch | Ward Added | Aldeburgh and Leiston |
| 25/06/2024 13:34:43 | Lorraine Fitch | Ward Added | Beccles and Worlingham |
| 25/06/2024 13:34:43 | Lorraine Fitch | Ward Added | Bungay and Wainford |
| 25/06/2024 13:34:43 | Lorraine Fitch | Ward Added | Carlford and Fynn Valley |
| 25/06/2024 13:34:43 | Lorraine Fitch | Ward Added | Carlton and Whitton |
| 25/06/2024 13:34:43 | Lorraine Fitch | Ward Added | Carlton Colville |
| 25/06/2024 13:34:43 | Lorraine Fitch | Ward Added | Deben |
Approval/Comments
No history found.