Agenda item

To report the level of spending and exposure against the Council’s Revenue budgets and reserves and balances for the first 5 months to 31 August 2023.  The report also includes an update on the Medium Term Financial Plan 2024/25 – 2026/27.

The Executive agreed the recommendations as outlined above namely:

1.      To note the report.  

2.      To require the respective directors, Chief Executive and Director of Resources to continue to closely monitor and manage service financial and operational performances, specifically the social care services.

3.      To prompt the Scrutiny Leadership Board to continue to independently review the financial and operational performances of Council services.

4.      To continue to lobby central government (Department for Levelling Up, Housing and Communities, Department for Health and Social Care and Department for Education in particular) along with local authority peers and networks and the Local Government Association for the funding necessary to cope with the burdens and demands presenting as a result of exceptional inflationary pressures and demographic demands upon statutory services.

5.      To continue to work towards target working balances of £6m by 31 March 2024 rising to £8m by 31 March 2025.