Purpose

To review the financial position of the
authority and adjust financial information as appropriate

Decision

RESOLVED:
 
A. That Cabinet noted the financial reporting
data for period 4 (July) relating to revenue budgetary control,
showing a forecast net adverse variance of £16.928m when
corporate and funding items are included.
B. That Cabinet noted the contents of Section
7 of the report and appendices 5a to 5d and approved the proposed
adjustments to the programme in Appendix 5b That Cabinet note the
contents of Section 7 of the report and appendices 5a to 5d and
approve the proposed adjustments in the Table below:
 

 

 

Adjustment Budget
2024-25
£

Adjustment Budget
2025-26
       £

Adjustment Budget
2026-27
        £

Adjustment Budget
2027-28
       £

Explanation for the
Budgetary Change

Environment, Civic Pride & Climate

 

 

 

 

 

 

Parks Investment – Playground Priority
Upgrade Prog

(1)

413,000

0

(113,000)

(300,000)

Reprofiled in line with projected spend

Total Environment Civic Pride &
Climate

 

413,000

0

(113,000)

(300,000)

 

Housing and Sustainable Development

 

 

 

 

 

 

Borough Regeneration – Schools Living
Walls

(1)

3,710

0

0

0

Increase to NCIL Funded schemes due to
inflation

Total Housing & Sustainable
Development

 

3,710

0

0

0

 

Overall Total

 

416,710

0

(113,000)

(300,000)

 

 
C. That Cabinet approved a revenue budget
virement in Adult Social Care between heads of services to transfer
budget from Meadowsweet to Learning Disabilities placements
following the closure of Meadowsweet.
D. That Cabinet noted the revision of fees in
relation to the client financial affairs service as outlined in
appendix 7.
E. That Cabinet approved the draw down of
£1,021,677 from the Children and Education grants reserve to
the Children, Lifelong Learning and Families department’s
revenue budgets for Early Years Family Hubs (£175,664), Early
Years Supporting Families (£327,048) and Free School Meals
Grant (£518,964).
F. That Cabinet approved the draw down of
£583k from the Cost-of-Living reserve to the Innovation &
Change directorate’s revenue budgets. The transfer includes
underspends of £80,243 for the Cost-of-Living fund Tranche 1
and £502,494 from Tranche 2 from previous years both to be
spent during 2024/25.