Editor's Forward
A lot of detail passes from Cheshire East by way of meeting's dates, press releases and other information.
For the dedicated reader, we have attached links to Audit and Governance Committee (Thursday, 5th December, 2024 10.00 am) where an "Urgent Item of Business – External Audit Planning Report 2023-24" has been added to the agenda.
Link to the Agenda is:-
https://moderngov.cheshireeast.gov.uk/ecminutes/ieListDocuments.aspx?MId=10333&x=1&
And the following link is to Cheshire East Council Provisional Audit planning reportfrom where the extract below has been taken
https://moderngov.cheshireeast.gov.uk/ecminutes/documents/s121595/24%20CEC%20-%20225UK%20Audit%20Planning%20Report%20-%20Local%20Government%202023-24.pdf
Financial Sustainability (extract P28)
In the Medium-Term Financial Strategy approved by the Council on 27 February 2024 the section 151 officer reported that:
"The Council must react to the financial deficit in this budget. Change and transformation is particularly important as overspending occurred in 2022/23 and is forecast in 2023/24. This is a trend that cannot be sustained or managed through reserves."
Despite increases in the net budget of £16.6m in 2022/23 and £25.4m in 2023/24 the Council exceeded budget by£6m in 2022/23 and £8.5m in 2023/24 with general fund balances reducing from £81.1m at the 31 March 2023to £43.2m at the 31 March 2024. The 28 November 2024 2nd Financial Review Report outlines that the 2024/25budget was based on the planned £22m use of reserves the achievement of £30m of savings and that as at November 2024 forecast revenue outturn is an adverse variance of £20.1m.
The Council has not set a balanced budget within their 2024-28 MTFS and is at risk of issuing a S114 notice in the future.
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