The Senior Finance Business Partner introduced the report to Members. The report set out the financial monitoring information for the Council as at Quarter 2 (30

September) of 2023/24. The report provided Members with an overview of budget performance, including progress on the delivery of the 2023/24 saving programme and a

summary of reserves and balances, to enable the Committee to take ownership of the budgets and provided robust challenge and scrutiny to Officers on the performance of those budgets.

At the end of Quarter 2, there was a forecast adverse position of £3.196m on Committee spend which could be largely offset by utilising the corporate contingency budget and expected savings from reduced energy costs. This position was based on activity to date, projected trends in income and expenditure and changes to Council funding.

Following a Member  query, Members were informed that the budget to replace vandalised property sits with maintenance, and depending on the asset that had been vandalised would sit with the relevant place committee.

Resolved – That the Committee noted,

1. the Directorate forecasted an adverse position of £3.196m presented at Quarter 2.
2. the progress on delivery of the 2023/24 savings programme at Quarter 2.
3. the forecasted level of reserves and balances at Quarter 2.

the forecasted capital position presented at Quarter 2.