Decision Maker: Strategy and Resources Policy Committee

Outcome: Recommendations Approved

Is Key Decision?: Yes

Is Callable In?: No

Date of Decision: March 17, 2025

Purpose: To present Strategy and Resources Committee with the latest financial outturn report and identify any additional financial approvals that are required.

Content: The Committee RESOLVED:   To note:   1. The council’s General Fund forecast outturn revenue overspend of £17.8 million at P10 2024/25 against the council approved budget of £533.7 million.   2. The performance on delivery of savings (Appendix A1, Section 3, Tables 3a and 3b).   3. The additional weighted net risk of £1.8 million per the risks and opportunities register (Appendix A1, Section 4, Tables 4a and 4b).   4. The council’s outturn position of £12.1 million overspend within the Housing Revenue Account to be transferred to the HRA general reserve at the year end (Appendix A1a, Section 5.3).   5. The council’s outturn position of a £33 million overspend (net £17.6m) in the Dedicated Schools Grant and that this brings the carry forward deficit to £91.6 million. Following the application of the DfE’s 24/25 Safety Valve combined with contribution from the General Fund, a total £54.7 million is forecast to be carried forward at the year end in the DSG deficit reserve (Appendix A1, Section 5.4).   6. The breakeven position on Public Health services (Appendix A1, Section 5.5).   7. The breakeven position on the Bristol Harbour Fund. (Appendix A1, Section 5.6).   8. The council’s forecast underspend of £26.3 million against the Capital Programme revised budget 2024/25, comprised of £20.7 million underspend on the General Fund and £5.6million underspend on the HRA. (Appendix A1, Section 6).   9. The finance key decision (no. 41 – 21 February 2025) to accept and spend £1.8m Holiday Activity and Food Programme grant funding for 2025/26.   10. The finance key decision (no.40 – 19 February 2025) to accept and spend up to £6.7 million DATRIG for 2025/26.