Purpose

Financial position as at December 2024 and an
updated year end forecast for the council budget for
2024-25.

Content

RESOLVED
that:-
 
The following be
approved:
1.1      the re-profiling to the
Capital Programme of £36.817 million from 2024-25 to 2025-26
to reflect estimated expenditure levels in the current financial
year.
1.2      the creation of a new
earmarked reserve for Leisure and the subsequent transfer of an
estimated £1.300 million to this reserve following the
liquidation of Active Northumberland. It is proposed that the
reserve will be used to offset leisure pressures.
1.3      Delegate the utilisation
of the reserve to the Executive Director of Public Health,
Inequalities and Stronger Communities in consultation with the
Section 151 Officer.
 
The following be
noted:
1.4      the projected overspend on
services of £2.997 million and the assumptions outlined in
the report.
1.5      the supplementary
estimates at Appendix A and the required changes to the
budgets.
1.6      the delivery of the
approved savings at Appendix B.
1.7      the use of the contingency
shown at Appendix L.
1.8      the use of reserves shown
at Appendix M.
1.9      the virements requested by
services within delegated limits as shown in Appendix N.
1.10    the details of capital project
reprofiling shown at Appendix O.