Agenda item

The Committee received a report of the Corporate Director of Resources which provided details of the forecast outturn budget for Neighbourhoods and Climate Change, highlighting major variances in comparison with the budget, based on the position to the end of quarter three 2023/24 (for copy of report see file of minutes).

Presenting the report, the Finance Manager for Neighbourhoods and Climate Change, Philip Curran, reported a forecast cash limit overspend of £97,000 against a revised budget of £123.766 million for Neighbourhoods and Climate Change, with Culture, Sport and Tourism forecasting an overspend of £0.328 million.  The report included a comparison of the forecast outturn with the budget, by Head of Service and variance explanations were provided. The forecast cash limit reserve position for Neighbourhoods and Climate Change at 31 March 2024 was £22,000 after taking the latest outturn position into account. 

The Committee noted the revised capital budget for Neighbourhoods and Climate Change stood at £56.603 million with expenditure to 31 December of £26.876 million. It was reported that key areas of spend during the period included strategic highways and low carbon schemes. Culture and Sport’s revised capital budget was £24.706 million with expenditure of £18.312 million. 

Resolved:            

That the report be noted.