Purpose

Quarterly Revenue Budget
Monitoring report for
financial year 2024/25

Content

 
Resolved:
 

That Cabinet approve:

 

a)   
The creation of a new earmarked
reserve from unused grant to fund 12-month temporary posts to
oversee the contract management and quality assurance of providers
required following Ofsted registration of supported accommodation
properties £0.057m (see para. 23).

 

b)   
A virement of £0.542m from
Corporate into Information Services. This represents the amount of
funding for additional staff which was part of the original EVOLVE
business case and budgeted centrally until required following full
implementation of the Oracle ERP system.

 

That Cabinet note:

 

c)   
The current revenue budget is forecast
to overspend by £6.510m by the end of the financial
year.

 

d)   
The current savings delivery
performance for the year.

 

e)   
The net operating surplus on the HRA
of £1.501m and the impact on the HRA reserve.

 

f)    
The receipt of the National Landscapes
grant funding for 2025/26.

 

g)   
£0.020m transfer from the Sports
Development Reserve to recognise the 10% grant uplift for arts
partners.

 

h)   
£0.085m transfer from the Air
Quality reserve to fund the procurement of air quality
equipment.

 

i)     
The overspend against Dedicated
Schools Grant (DSG) budgets of £8.909m and the impact on the
cumulative DSG deficit.
 
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 2025/26 as at
quarter one (30 June 2025), including delivery of approved savings
for the year