Decision Maker: Executive
Decision status: Recommendations Approved
Is Key decision?: Yes
Is subject to call in?: Yes
To provide the Executive with an update on the
current year’s predicted spending against budget and an
outline of future financial prospects.
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
Reason Key: Affects more than 1 ward;
Wards Affected: (All Wards);
Financial Impact: To be included in the report based on up-to-date information at that time.
Declarations: None
Subject to Urgent Proceedings: No
Making Representations: In writing to the Executive Director of Resources
Other reasons / organisations consulted
No public consultation
Consultees
None
Contact: Stuart McKellar, Executive Director: Resources Email: stuart.mckellar@bracknell-forest.gov.uk Tel: 01344 352205.
Report author: Stuart McKellar
Publication date: 17/10/2023
Date of decision: 17/10/2023
Decided at meeting: 17/10/2023 - Executive
Effective from: 25/10/2023
Accompanying Documents: