Purpose

A report outlining the forecast financial
position of the organisation at the end of 2024/25, based on the
information known at the end of the second quarter.

Decision

That Cabinet:
 
1.    
Notes the forecast net residual service overspend of £9.487m
(2.4%) that would need to be funded from reserves at the end of
2024/25;

 
2.    
Notes the forecast delivery of savings for 2024/25 of £9.529m
(59%), and the consequent shortfall against the target;
 
3.    
Notes the forecast capital spend for 2023/24 of
£176.138m;
 
4.    
Notes and approves the movement in the forecast spend on the
capital programme of £12.776m from 2024/25 into future years;
and
 
5.    
Approves the transfer of £4.885m from the Revolving Fund to
the Revenue Investment Fund as detailed in Section 6 of the
report.