Decision details

i.       the Council’s predicted current year financial position summarised in Table 1 and detailed in Annex A is noted.

ii.     Endorses the actions agreed by the Corporate Management Team to help contain expenditure in the current year as set out under paragraph 5.4 are endorsed.

iii.    the Council’s predicted medium-term financial prospects based on the

assumptions detailed in paragraphs 5.9 to 5.16 and summarised in Table 2 is noted, which is subject to development of detailed draft budget proposals for 2024/25 and future years and to confirmation of the local government finance

settlement in December.

iv.    the Executive will be asked at its November meeting to recommend to Full Council a Flexible Use of Capital Receipts Strategy, that will provide funding from capital resources to secure additional capacity needed to drive transformation change to help secure a sustainable future financial position.

v.     the proposed use of the Council’s funding to support delivery of affordable housing as set out in paragraphs 5.20 to 5.22 is agreed.

The recommendations are intended to ensure that the Executive is aware of the

Council’s current and predicted future financial position.

The Executive could choose not to support expenditure on the proposed priority

areas. This is not recommended as the measures proposed are viewed as

preventing more significant cost increases in the period ahead.

None