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  • Decision details

    FINAL ACCOUNTS 2023/24: REVENUE OUT-TURN

    • Find out more about this issue

    Decision status: Approved

    Is Key decision?: No

    Is subject to call in?: No

    Decision:

    The report was accepted and the final financial position of the Council’s departments for 2023/24 was considered:

     

     

    Column A 

    ⁠Column B Column C

    Column D
     

     

    Gross Under / (Over) Spend

    ⁠

    ⁠

    2023/24

    Recommended Adjustments

    Amended Over / Under Spend

    ⁠

    2023/24

     

    £ '000 

    £'000

    £'000

    £ '000 

     

    Adults, Health, and Well-being

    3,906

    (3,806)

    0

    100

    Children and Families

    2,611

    (2,511)

    0

    100

    Education 

    0

    0

    0

    0

    Economy and Community

    308

    0

    (308)

    0

    Highways, Engineering and YGC

    687

    (587)

    0

    100

    Environment

    1,237

    (1,137)

    0

    100

    Housing and Property

    255

    (155)

    0

    100

    Corporate Management Team and Legal 

    (11)

    0

    0

    (11)

    Corporate Support

    (10)

    0

    0

    (10)

    Finance 

    (7)

    0

    0

    (7)

     

     

    It was noted that there was significant overspend in the Adults, Health and Well-being Department, the Children and Families Department, the Highways, Engineering and YGC Department, the Environment Department and the Housing and Property Department this year (See column A in the table above). To approve the following financial virements (as outlined in Appendix 2):

     

    The departments that are over-spending to receive one-off partial financial assistance to limit the overspend that will be carried forward by the Department to £100k (see column B in the table above).

     

    It was confirmed to provide financial support of £308k above the contracted payment to Byw'n Iach (see column C in the table above).

     

    On Corporate budgets:

    -      Use the remaining balance in the Covid Fund of £4,402k to assist the departments that have overspent in 2023/24.

    -      Use (£2,091k) of the corporate net underspend to assist the departments that have overspent in 2023/24.

    -      The remainder of the net underspend of (£495k) on corporate budgets to be transferred to the Financial Strategy Support Fund.

     

    The amounts to be carried forward were approved (the “Revised Over/(Under) Spend” in column D above and in Appendix 1.

     

    The financial virements from the specific reserves were approved as outlined in Appendix 3 following a review of the reserves:

    -      Harvesting (£1,703k) from reserves to be used in its entirety to assist the departments that have overspent in 2023/24.

    -      To use £2,975k to fund one-off bids in 2024/25 following the removal of £1,113k from the Transformation Fund and transfer £1,862k from the Financial Strategy Support Fund.

     

    Publication date: 14/05/2024

    Date of decision: 14/05/2024

    Decided at meeting: 14/05/2024 - The Cabinet

    Accompanying Documents:

    • Final Accounts 2023/24: Revenue Out-Turn pdf icon PDF 856 KB
    • Appendix 1 pdf icon PDF 293 KB
    • Appendix 2 pdf icon PDF 371 KB
    • Appendix 3 pdf icon PDF 184 KB

     

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