Decision Maker: Executive

Outcome: Recommendations Approved

Is Key Decision?: Yes

Is Callable In?: No

Date of Decision: November 5, 2024

Purpose: The report provides Members with an overview of the forecast financial position of the Council for 2024-25 based on information at the end of September 2024. The report will also outline further savings and mitigating actions.

Content: Resolved –   That the Executive:   (1)           Noted that all Strategic Directors are required to reduce their expenditure during the remainder of the financial year to significantly reduce the current forecast departmental overspend.   (2)           Noted that the Director of Finance has accepted the invitation to enter into a memorandum of understanding for Bradford to be a member of the 2025-26 Leeds City region business rates pool, and to approve delegated authority to the Director of Finance, in consultation with the Leader, to agree to participate in the Leeds City Region Business Rates pool in 2025-26.   (3)           Approved the following capital expenditure schemes as outlined in sections 13.7 and 13.8 to Document “W”.   (4)           Approved that authority be given to the Director of Finance to approve up to £0.153m for the purchase of a replacement Decontamination Unit and Forklift used by the Bradford Airedale Community Equipment Store. This is subject to the completion of funding discussions with NHS partners. It will be funded by the general contingency budget.   (5)           Noted the following capital expenditure is approved under Section 1.7 of the Financial Regulations: • Foster Carer Extensions - £0.168m new budget to complete extension works at two properties to enable the continuation of foster care placements. This will be funded from the 2023-24 General Contingency budget included in the Capital Investment Plan. • Harold Park Dam - £0.1m for remediation works to be carried out. This scheme is funded from the general contingency budget.   (6)           Reviewed and commented on the Qtr. 2 Finance Position Statement.   To be actioned by: Director of Finance   Overview and Scrutiny Area: Corporate   (Andrew Cross - 07870 386523)