Issue - meetings
Financial Monitoring Period 1
Meeting: 05/06/2024 - Cabinet (Item 10.)
10. Financial Monitoring Period 1 
PDF 447 KB
Lead Member – Councillor Gwilym Butler – Portfolio Holder for Finance, Corporate Resources and Communities
Lead Officer – Ben Jay
Decision:
RESOLVED:
That Cabinet Members:
1. Noted that the position set out in the report reflects the best information available after the first 4 weeks of the year (with c90% of the year remaining), and hence considerable uncertainty in these early estimates which will be taken forward as a ‘floor’ position. P2 will be expected to help set out a ‘ceiling’ position, resulting in a ‘control corridor’ which can be considered in future reports.
2. Noted that at the end of Period 1 (30th April 2024), the indicative level of savings delivery is £47.907m (77%), resulting in a projected spend over budget of £29.006m for 2024/25.
3. Noted the projected General Fund Balance of £9.815m for 31 March 2025 if the projected spend over budget is realised.
Meeting: 03/06/2024 - Transformation and Improvement Overview and Scrutiny Committee (Item 8.)
8. Financial Monitoring Period 1 PDF 447 KB
To scrutinise financial performance at Period 1 and identify issues that may require further investigation by an overview and scrutiny committee.
REPORT TO FOLLOW