Purpose

To report on the Councils Finances as at the 31st March 2025

Decision

It is recommended that Cabinet

1)    That Cabinet notes the General Fund draft outturn position for 2024/25 being an underspend of £317,000 as detailed in Table 1.

2)    That Cabinet notes the HRA draft outturn position for 2024/25 being an underspend of £13,000 as detailed in Table 2.

RECOMMENDATIONS FROM CABINET TO COUNCIL:

It is recommended that Cabinet approves the following recommendations for onward referral to Full Council:

3)    That Cabinet approves and recommends to Full Council the transfer part of the surplus (£217,000) to the General Fund Reserve. 

4)    The Cabinet approves and recommends to Full Council the transfer of part of the surplus (£100,000) to be transferred into a Parish Councils Loan Reserve pending the drafting of the loan scheme by officers for Cabinet in due course.

5)    That Cabinet approves and recommends to Full Council the transfer of the HRA surplus (£13,000) to the HRA General Reserve.

6)    That Cabinet refers to Full Council to approve the reserves transactions and balances as set out in Appendix A - Table 3 for 24/25. 

7)    That Cabinet recommends to Full Council the approval of the 2024/25 capital outturn position presented in Table 4a 

8)    That Cabinet recommends to Full Council the capital rephasing from 2024/25 to 2025/26 presented in Table 4c. 

9)    That Cabinet recommends to Full Council to amend the Capital Programme at Appendix A – Table 5a to Table 5d considering the changes set out in this report.

Reasons for the decision

·         To ensure the Council’s draft outturn financial position for 2024/25 is considered and related decisions approved.  It is important that the Cabinet are aware of the financial position of the General Fund and Housing Revenue Account to ensure that they can make informed decisions that are affordable and financially sustainable for the Council.

Alternative options considered

·         To not approve the financial movements outlined;