Purpose

Outturn Revenue Budget Monitoring report for
financial year 2024/25

Content

 
Resolved:
 
Cabinet
approved:
 
a)   
Transfers to and from earmarked reserves as detailed in appendix
B;
b)   
Creation of new earmarked reserves as detailed in appendix
B
c)   
The revenue contribution to capital of £0.635m for works
in relation to Salisbury City Hall. 
d)   
The final General Fund revenue overspend position for 2024/25 of
£4.853m be funded from the following reserves:
 
                                              
i.    
£0.700m from the Pay Award reserve
                                            
ii.    
£0.713m from the Waste reserve
                                          
iii.    
£2m from the Transformation reserve
                                          
iv.    
£1.440m from the Insurance reserve
 
 Cabinet noted:
 
e)   
 The general fund outturn position
for the financial year 2024/25.
f)    
The final year end position of savings delivery.
g)   
The overspend on the HRA of £1.236m and the impact on the
HRA reserve.
h)   
The overspend against Dedicated Schools Grant (DSG) budgets of
£9.899m and the impact on the cumulative DSG deficit.
i)     
The receipt of National Landscapes DEFRA grant funding for
2024/25
 
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 financial year end revenue
outturn position for the Council for the financial year 2024/25,
including delivery of approved savings.
 
To improve the Councils financial resilience by
setting aside funds in earmarked reserves to prudently assist in
managing the Councils financial risks and future
pressures.