Purpose

To set out the current financial position for
the Council at the end of the first quarter of 2024/25

Decision

DECISIONS:
 
1)   
That Cabinet note the forecast revenue position of a
£67,000 overspend for 2024/25, as detailed in Table 1, and
the need for continued focus on the savings and efficiency
programme;
 
2)   
That Cabinet approve a transfer to the Planning
reserve of £300,000;
 
3)   
That Cabinet approves the amendments to the Capital
Programme at Appendix A – Table 4 to take into account the
changes set out in the report;
 
RECOMMENDATIONS
FROM CABINET TO COUNCIL:
 
4)   
That Cabinet refers to Full Council the approval of
an amended 2024/25 budget for the Housing Revenue Account (HRA)
with a surplus of £192,000 including an associated reserve
withdrawal, as detailed in Table 3.

Reasons for the decision

·      
To ensure the Council’s forecast 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 reserve movements
outlined;