Report Summary
This report provides members of the Resources Committee with an update on the financial outturn position of the SPA and Police Scotland for FY 2023/24. Members are also asked to approve the following 2023/24 budget revisions:
£5.2m reduction in the revenue budget to reflect the impact of IFRS16 leases; and
£8.4m increase in the capital budget to reflect the impact of IFRS16 leases.
To access the full document please open the PDF document above.
To view as accessible content please use the sections below. (Note that tables and some appendixes are not available as accessible content).
Meeting
The publication discussed was referenced in the meeting below
Resources Committee -19 June 2024
Date : 19 June 2024
Location : online
Further Detail on report topic
A number of financial risks were highlighted as part of the budget approval process, some of which materialised in the first half of the financial year causing significant pressure on the 2023/24 revenue position. Mitigating actions and savings have been managed and delivered through our Policing Our Communities programme to bring spend back in line with the funded position.
The report at Appendix A sets out the provisional net outturn for SPA/ Police Scotland for the year ended 31 March 2024. These figures are still subject to finalisation and external audit. The final position will be reported in the Annual Report and Accounts (ARA).
The table below shows total expenditure compared to the funding available to the organisation in the year, split by the three budgetary streams: revenue, capital, and reform, with the full detail is set out at Appendix A.
Revenue. The provisional outturn revenue position for the year ended 31 March 2024 shows net expenditure of £1,347.7m against total funding of £1,347.7m, resulting in a break-even position. The movement against Q3 FC is £5.0m due to continued savings / cost reductions which has negated the need for contingency funding.
Capital. The full year provisional outturn capital spend is £63.3m against funding of £63.3m, resulting in a break-even position against funding.
Reform. The full year outturn revenue reform spend is £20.0m against funding of £20.0m, resulting in a break-even position against funding.
