Decision details

The report sets out a summary of the current financial position for the Council at the end of the first quarter of 2024/25 forecasting to the year end for members consideration.

RESOLVED:

1.    That the forecast revenue position of a £148k underspend for 2024/25, as detailed in Table 1 within the report, and the need for continued focus on the savings and efficiency programme be noted;

2.    That the reserve transfer of £296,307 into the budget, in respect of Project Funding that has been set aside on the balance sheet for that use, be approved;

3.    That the reserve transfer of £260,000, to the Capital Reserve in respect of a VAT refund received in year, be approved; and

4.    That the amendments to the Capital Programme, to take into account the changes set out in Appendix A – Table 5 within the report, be approved.

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 to ensure that they can make informed decisions that are affordable and financially sustainable for the Council.

To not approve the financial movements outlined.