Issue - meetings

RECOMMENDATIONS

1.To note the breakdown of the forecast General Fund  outturn by variance at Appendix 1 and service area at Appendix 2 of the report of the Executive Member for Finance and Performance.

2.To note the forecast outturn 2024/25 General Fund position.

3.To note, and where necessary agree, the virements and budget adjustments.

4.To note the Collection Fund estimated outturn position for council tax and national non-domestic rates.

5.To note progress on delivering the 2024/25 agreed budget savings.

6.To note the HRA forecast outturn.

7.To note the forecast capital outturn at Q1 of £291.627m for 2024/25 which includes an overspend of £0.300m on the revised 2024/25 budget and the revised multi-year capital programme and how it will be financed.

8.To agree the requested capital reprofiling with future financial years and budget adjustments, and to note the further capital reprofiling and budget adjustments which will be reported to Full Council for agreement via the paper Capital Programme 2024/25 Quarter 1 Budget Changes on 19th September 2024.

9.To agree changes in capital financing for ongoing schemes which will lead to a net reduction in the borrowing requirement of the capital programme by £0.135m.

10.To note, and where necessary, agree to debt write-offs

DECISIONS:

AGREED RECOMMENDATIONS

Reasons for the decision – as detailed in the report

Other options considered – as detailed in the report

Conflicts of interest / dispensations granted – none

RESOLVED:

(a) To note the breakdown of the forecast General Fund outturn by variance at Appendix 1 and service area at Appendix 2, as detailed in the report of the Executive Member for Finance and Performance.

(b) To note the forecast outturn 2024/25 General Fund position.

(c)To note, and where necessary agree, the virements and budget adjustments.

(d) To note the Collection Fund estimated outturn position for council tax and national non-domestic rates.

(e) To note progress on delivering the 2024/25 agreed budget savings.

(f) To note the HRA forecast outturn.

(g) To note the forecast capital outturn at Q1 of £291.627m for 2024/25, which included an overspend of £0.300m on the revised 2024/25 budget and the revised multi-year capital programme and how it would be financed.

(h) To agree the requested capital reprofiling with future financial years and budget adjustments, and to note the further capital reprofiling and budget adjustments which would be reported to Council for agreement via the paper “Capital Programme 2024/25 Quarter 1 Budget Changes” on 19th September 2024.

(i) To agree changes in capital financing for ongoing schemes which would lead to a net reduction in the borrowing requirement of the capital programme by £0.135m.

(j) To note, and where necessary, agree to the debt write-offs set out in paragraph 7 of the report.

Reasons for the decision – to enable members to monitor the Council’s budget.

Other options considered – all as detailed in the report of the Executive Member for Finance and Performance.

Conflicts of interest / dispensations granted – none