Decision - Targeted Budget Management (TBM) 2023/24: Month 5 (August)

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Decision details

Targeted Budget Management (TBM) 2023/24: Month 5 (August)

Decision Maker: Strategy, Finance & City Regeneration Committee

Decision status: For Determination

Is Key decision?: No

Is subject to call in?: No


Report detailing the projected financial position to the end of 2023/24 financial year based on financial performance up to the end of August 2023


RESOLVED: That the Committee –


(i)             Noted the forecast risk position for the General Fund, which

indicates a potential forecast overspend risk of £8.971m. This includes an overspend of £0.235m on the council’s share of the NHS managed Section 75 services.


(ii)            Noted the escalated recruitment and spending controls summarised in Section 12 that have been applied from 5 July to assist in mitigating the overspend forecast over the remaining months of the financial year.


(iii)          Noted the forecast for the Housing Revenue Account (HRA), which is currently a break-even position.


(iv)          Noted the forecast position for the Dedicated Schools Grant which is currently an overspend of £0.680m.


(v)           Noted the forecast outturn position on the capital programme which is a forecast overspend of £0.412m and approve the variations and slippage in Appendix 6 and new schemes as set out in Appendix 7.


(vi)          Noted the Treasury Management Update as set out in Appendix 8.


Report author: Jeff Coates

Publication date: 05/10/2023

Date of decision: 05/10/2023

Decided at meeting: 05/10/2023 - Strategy, Finance & City Regeneration Committee

Accompanying Documents:


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