Purpose

Quarterly Revenue Budget
Monitoring report for
financial year 2024/25

Content

Resolved:
 
Cabinet
approves:
 

a)   
The following transfers to earmarked reserves;

 
i.              
£0.120m for activity funded by the Supporting Families
grant which will fall into future years;
 
ii.            
£0.285m for activity relating to improvements in early
help in schools and with families in SEN and targeted services;

 
iii.           
£0.803m to the High Needs Sustainability Activity Reserve
in relation to High Needs transformation activity which will fall
into future years;
 

b)   
That the balances held in the Inquests and Salisbury Recovery
earmarked reserves totalling £0.466m that are no longer
required be transferred to the General Fund Reserve.
 
Cabinet notes:
 

c)   
the current revenue budget is forecast to overspend by
£1.749m by the end of the financial year.

 

d)   
the current forecast savings delivery performance for the
year.

 

e)   
the forecast overspend on the HRA of
£0.696m and the impact on the HRA reserve.

 

f)    
The additional forecast overspend
against Dedicated Schools Grant (DSG) budgets of £0.593m and
the impact on the cumulative DSG deficit.

 

g)   
The transfer from earmarked reserves;

 
i.              
£0.450m from the transformation reserve as approved by the
Transformation Board to support planned FACT activity;
 
ii.            
£0.455m from the transformation reserve as approved by the
Transformation Board to support planned HNB transformation
activity;

 
iii.           
£0.055m to fund the Short Breaks grant scheme spend in
2024/25 financial year;

 
iv.           
£0.060m to fund external consultant support for the SEN
Inspection;

 
v.            
£0.057m from the Not in Employment Education or Training
(NEET) reserve for 2024/25 activity;

 
vi.           
£0.036 from the Business Plan Priority Reserve for
Enforcement Activity.

 
 
Reason for
Decision:
 
To inform effective
decision making and ensure sound financial management as part of
the Councils overall control environment.
 
To inform Cabinet
on the forecast revenue financial position of the Council for the
financial year 2024/25 as at quarter three (31 December 2024),
including delivery of approved savings for the year.