Content

The Committee RESOLVED:
 
To note:
1.
The council’s General Fund forecast outturn revenue overspend
of £12.5 million against the council approved budget at Q1/P2
2024/25.
2.
The Q1/P2 2024/25 technical virements (Appendix A1a, Tables
3a-3d).
3.
The performance on delivery of savings (Appendix A1a, section 4,
Table 4a-4b).
4.
The additional weighted net risk of £16.6m per the risks and
opportunities register (Appendix A1a, section 5, Table
5a-5b)
5.
The council’s outturn position of £3.6 million
overspend within the Housing Revenue Account to be transferred to
the HRA general reserve (Appendix A1a, section 6.4)
6.
The council’s outturn position of a net £24.1 million
overspend in the Dedicated Schools Grant and, following the
application of the DfE’s 24/25 Safety Valve combined with
contribution from the General Fund (totalling £15.9m), that a
total £45.4 million is to be carried forward in the DSG
deficit reserve (Appendix A1a, section 6.5).
7.
The breakeven position on Public Health services (Appendix A1a,
section 6.6).
8.
The council’s forecast underspend of £149.6 million
against the Capital Programme revised budget 2024/25, comprised of
£15.0 million underspend on the General Fund and £134.6
milllion underspend on the HRA.
(Appendix A1b, appendix A9 and appendix 19).
9.
The planned flexible use of £12.0 million capital receipts in
support funding of the Transformation Programme. (Appendix
A1b).
10.
The planned use of £2.4 million Strategic Community
Infrastructure Levy (SCIL) to support the expansion of South
Bristol Cemetery. (Appendix A1b).
11.
The in-year collection levels for Council Tax and Business Rates as
set out in the report (Appendix A1a, section 7).
12.
The level of aged debt as at 31 May 2024 (Appendix A1a, section
7).
13.
The 1 April 2024 opening balances on the General Fund and Earmarked
Reserves and movements to Q1/P2 close (see section 10 in Appendix
A1a, section 9).
 
To
approve (unanimously):
1.
Revisions at Q1/P2 to the approved Capital Budget to incorporate
the reprofiling of £3.5m budget movements following the
approval of Cabinet and officer executive decisions and the
re-profiling of £2.7m prior year unspent budget carry
forward.
2.
Further revisions to the Capital Budget prior to P3 to reflect the
forecast £149.6m underspend and its reprofiling into future
years.
3.
The release of £8.0 million corporate inflation budget as
approved in the 2024/25 budget but not initially allocated to
directorates’ cash limits (Appendix A1a, section
3).
4.
The forecast release of £15.2 million corporate funds
(£4.6m inflation budget and £10.6m optimism
bias/savings contingency) to mitigate in part the £28.7
million forecast overspend at service level.
5.
The creation of 3 new reserves to account for Early years
wraparound childcare, Early years delivery support for early years
expansion and Schools in financial difficulty.