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 third quarter.

Decision

That Cabinet:
 
1.    
Notes the forecast net service overspend of £6.567m (1.6%)
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 £9.803m
(61%), and the consequent shortfall against the target;
 
3.    
Notes the forecast controllable capital spend for 2024/25 of
£169.172m;
 
4.    
Notes and approves the movement in the forecast spend on the
capital programme of £13.447m from 2024/25 into future
years;
 
5.    
Notes the new S106 developer funding that is being utilised within
the capital programme; and
 
6.    
Approves the transfer of £0.472m from the Schools Absence
Insurance Equalisation Reserve to the Schools Liability Reserve as
detailed in Section 7 of the report.