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The Cabinet considered
a progress report of the Director of Children’s Services,
which sought to update on issues that were impacting on the directorate and relating recovery
plan. The report contained detail of quarter three 2024/25
financial position, 2024/25 recovery plan and Medium term recovery
plan.
 
The report author
was in attendance to present the
information and to address the questions and the comments of the
Cabinet Members.
 
Resolved:
1.   
That the forecasted financial position for 2024/25 at quarter three
and related service commentary, and plans for the remainder of
2024/25 and the medium term be noted;
2.   
That it be noted that a separate report
would be submitted in April around the staffing pressures during
2024/25, as per section 5.6 of the report.
 
Reason for
decision:
Cabinet Members
should be kept updated on the financial
position of all Council directorates, as effective budget
management was critical to ensuring financial resources were spent
in line with the budget, and were targeted towards the
Council’s priorities.
 
Alternatives
considered and rejected:
No alternative as
financial reporting ensured the Council complies with CIPFA’s
Financial Management Code and its standards for management of
financial resources in the short, medium and long term, management
of financial resilience to meet unforeseen demands on services, and
management of unexpected shocks within financial circumstances.