Purpose

The
Cabinet will be asked to approve the Council’s final revenue
and capital outturn position for 2024/25 and, if necessary, any
appropriate in-year budget adjustments.

Content

Cabinet resolved to:
 
(i)  Note that the
General Fund provisional outturn position for 2024/25 was
£220.729m, representing an underspend of £1.016m
against the revised budget of £221.745m, as detailed in
section 2 of the report;
 
(ii)  Agree the transfer
of £1.016m to the General Reserve to achieve a balanced
outturn position for 2024/25 and other transfers to and from
reserves, as detailed in Appendix A to the report;
 
(iii)  Note the Housing Revenue
Account (HRA) provisional outturn position for 2024/25 was an
underspend of £10.687m, which shall be transferred to the HRA
Reserve, as detailed in section 4 of the report;
 
(iv)  Note that the Dedicated
Schools Grant (DSG) provisional outturn position for 2024/25 was an
overspend of £5.183m, which shall be met from the DSG
Reserve, as detailed in section 5 of the report;
 
(v)  Note the performance of
the Investment and Acquisition Strategy (IAS) as set out in section
9 of the report;
 
(vi)  Note that the Capital
Programme provisional outturn position for 2024/25 showed an
underspend of £31.141m against a revised budget of
£266.695m and approve the carry forwards to 2025/26, as
detailed in section 11 and Appendices B and C to the report;
and
 
(vii)  Note the update on the progress
on the year-end accounts and the work still outstanding, as set out
in section 12 of the report.