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That the latest projected overspend of
£8,171,000 forecast on the controllable budget based on
information as at December 2024 be noted.
 
That the Council’s Executive be
recommended to agree the release of funds from the Central
Contingency as set out in Section 5 of Report CEF25022.

Reasons for the decision

One of the ambitions of “Making Bromley
Even Better” is to manage the Local Authority’s
resources well, providing value for money and efficient and
effective services for Bromley’s residents.  To meet this ambition, a relentless focus is
required on efficiency, outcomes of services and prudent management
of the Local Authority’s finances, particularly as the
“2024/25 Council Tax” report highlights the financial
pressures facing the Council.  It
remains imperative that strict budgetary control continues to be
exercised to minimise the risk of compounding financial pressures
in future years, with Chief Officers and Departmental Heads of
Finance continuing to place emphasis on the need for strict
compliance with the Council’s budgetary control and
monitoring arrangements.