Decision Maker: Cabinet

Outcome: For Determination

Is Key Decision?: No

Is Callable In?: Yes

Date of Decision: June 24, 2025

Purpose: The report outlines the General Fund Revenue and Capital outturn for the financial year 2024/25 and summarises the Reserve balances as at 31 March 2025. It also considers the General Fund Revenue outturn for 2024/25 and to approve the Revenue and Capital Budget carry forwards. The report also provides a statement of the year-end financial position and progress with approved capital investment projects.  

Content: Cabinet has considered and reviewed the report and appendices as presented and:   General Fund (GF): Revenue   (a) Noted the provisional General Fund revenue outturn for 2024/25, as summarised at Appendix A. (b) Noted the key factors which have led to the underspend in the provisional 2024/25 General Fund Revenue outturn, noting the explanations provided for the variances compared to the revised 2024/25 revenue budget. (c) Approved the carry forwards of £20,540 in relation to General Fund revenue projects which were not undertaken during the year as planned.   GF: Review of Reserves   (d) Noted the estimated balance of Reserves of £35.315 million as at 31 March 2025.   GF: Capital   (e) Noted the 2024/25 General Fund Capital provisional outturn of £27.707 million. (f)   Noted the General Fund Capital Programme schemes as shown in Appendix B. (g) Approved the carry forwards of £8.164 million in relation to General Fund capital projects due mainly to slippage. (h)  Noted that a full review of the Capital Programme will be submitted to Cabinet at its December 2025 meeting to include re-phasing of the existing programme and new Capital bids for the next budget cycle.