Issue - meetings

Report of the Deputy Chief Executive and S151 Officer.

The Cabinet were presented a *report from the Deputy Chief Executive (S151) which provided an update on the 2023/24 Budget position and discussed further options for cost savings or income generation.

The Deputy Chief Executive (S151) highlighted that the financial settlement had been delivered with estimates that were close to the Council’s financial position. This settlement provided a 3% minimum baseline for all Councils.

In addition, the resident survey responses would be provided to the Policy Development Groups (PDG) for comment and that the Council’s general fund was circa £900,000 away from a balanced position. In addition, proposals with facilitated discussion were upcoming with the four PDGs.

Members discussed the following:

• Asked what the Council’s estimated shortfall would likely be for the year end for 2022/23, the Deputy Chief Executive explained that the position would have worsened due to the increased costs of utilities and therefore would be estimated to be over £500,000.
• That an update paper had not yet been circulated, the Deputy Chief Executive (S151) explained that this was to be sent out soon.

It was therefore RESOLVED: That Cabinet

1.  Considered the updated 2023/24 budget position for the General Fund, Capital Programme and the HRA;

2. Considered the further options as set out in Appendix 3, or any additional suggestions to balance the remaining shortfall and circulate them to the Policy Development Groups for further input during their January suite of meetings prior to the formal recommendation back to Cabinet and Council in February.

(Proposed by Cllr R Deed and seconded by Cllr C Slade)

Reason for Decision: As stated in the report.

Note: * report previously circulated and attached to the minutes