Decision

Decision
RESOLVED to recommend to Full Council:
 
Members are asked to
consider the report and recommend the following to full
Council:
 
a)  The
provisional outturn position for the General Fund revenue account
for 2024/25 (as shown in Appendix A);
b)  The transfers to and from reserves as detailed
within the report (and Appendix C);
c) The surplus of
£0.622m be transferred to the General reserve to mitigate
future funding shortfalls.
d) The balance on
the General Reserve of £2.825m following the transfer
outlined above.
e) The surplus of
£0.384m relating to retained business rates be transferred to
the Business Rates reserve.
f) The financing of
the 2024/25 capital programme as detailed within the report and at
Appendix D.
g) The updated
capital programme for 2025/26 to 2030/31 and scheme financing as
outlined within the report and detailed at Appendix
E;
h) Approval of
additional funding to cover capital project overspends of
£10,816 as detailed in paragraph 5.7.
i) The roll-forward
of existing capital project funding from 2024/25 into 2025/26 as
detailed in paragraph 5.9.
j). To note the
addition of £55,000 towards the New Play Area (Sheringham,
The Lees) to be funded from the Asset Management Reserve in 2025/26
for a total project budget of £120,000
k) The addition of
£6,081 towards the Cromer Offices LED Lighting in the Capital
Programme to be funded from Capital Receipts in 2025/26 for a total
project budget of £178,796.
l) The addition of
£20,000 towards the Public Conveniences (Sheringham &
North Walsham) project in the Capital Programme to be funded from
Capital Receipts in 2025/26 for a total project budget of
£565,514.
m) The addition of
the Holt Eco Learning Space scheme for £100,000 into the
2025/26 Capital Programme to be funded by an external
contribution.
 
Reasons for the
decision:
 
To provide a draft outturn position for the
General Fund, Capital Accounts and Reserves which will form the
basis to produce statutory accounts for 2024/25. Also to provide a
draft opening position for the financial year 2025/26