Purpose

This report provides Cabinet
with a view on the 2024/25 provisional outturn for General Fund
revenue and capital, as well as the Housing Revenue Account. As
indicated, these figures are provisional and therefore subject to
possible change until the audit of council’s final accounts
has been completed.
 
The report details significant
overspends in 2024/25 and the consequent management action that is
being taken to manage any recurring overspends in
2025/26.

Decision

Cabinet agreed the following:
 
1. 
To the 2025/26 capital
programme budget adjustments, numbered (i) to (vi), as set out in
section 7.3.2 and Annex 1 to the Cabinet report;
 
2. 
To approve a General
Fund revenue budget virement of £150,000, as detailed in
section 4.3 (i) to the report, to facilitate the recruitment of
additional staffing resources in the Homelessness service
area.

Reasons for the decision

This report provides Cabinet with a view on
the 2024/25 provisional outturn for General Fund revenue and
capital, as well as the Housing Revenue Account.
 
This report makes recommendations that Cabinet
approve a number of budget adjustments to the Capital Programme as
identified in 7.3 to this report.
 
The report details significant overspends in
2024/25 and the consequent management action that is being taken to
manage any recurring overspends in 2025/26.

Alternative options considered

Budget adjustments are an important part of budget
management.