Decision details

To set out the current financial position for the Council at the end of the third quarter of 2024/25.

DECISIONS:

1)    That the forecast revenue position of a £176,000 underspend for 2024/25 as detailed in Table 1, and the need for continued focus on the savings and efficiency programme be noted.

2)    That the forecast revenue position of the HRA for 2024/25 (surplus of £227,000) as detailed in Table 2 be noted.

3)    That the virement of £135,000 from other cancelled spending needs, to fund contract cost pressures be approved.

RECOMMENDATIONS FROM CABINET TO COUNCIL:

4)    That Cabinet recommends to Full Council to amend the Capital Programme at Appendix A – Table 4b to take into account the changes set out in this report.

5)    That Cabinet recommends to Full Council to amend the Capital Programme at Appendix A – Table 5a to take into account the changes set out in this report.

To ensure the Council’s forecast financial position for 2024/25 is considered and related decisions approved.  It is important that the Cabinet are aware of the financial position of the General Fund and Housing Revenue Account to ensure that they can make informed decisions that are affordable and financially sustainable for the Council.

To not approve the reserve movements outlined.