Decision Maker: Cabinet

Outcome: Recommendations Approved

Is Key Decision?: No

Is Callable In?: No

Date of Decision: June 16, 2025

Purpose: To advise Cabinet of the revenue and capital outturn for 2024/25. To seek approval for any revenue budget transfers and requested changes to the Capital Investment Programme and to note the Infrastructure Funding Statement 2024/25.

Content: The Cabinet considered a report of the Executive Director (Finance and Resources) presenting the provisional revenue outturn for 2024/25 and the indicative level of revenue balances going into 2025/26.   Resolved:   1. That the provisional 2024/25 revenue outturn position for both the General Fund and Housing Revenue Accounts (HRA), as set out in the submitted report, be noted and the agreement of any final adjustments following the completion and audit of the Statement of Accounts be delegated to the Executive Director (Finance and Resources).   2. That the potential revenue impact of the 2024/25 outturn on the 2025/26 General Fund budget and Medium Term Financial Strategy, as set out in the report, be noted.   3. That it be noted that the expenditure on the capital investment programme for 2024/25 totalled £43.697M against a revised budget of £50.949M.   4. That the results of the ongoing review of the affordability and prioritisation of the current approved Capital Investment Programme, be noted.   5. That the content of the Infrastructure Funding Statement 2024/25, as set out at Appendix 3 to the report, be noted and the carry forward of CIL Main Fund receipts from reported year 2024/25 and previous reported years until the CIL Governance Framework and spending plans are reviewed for the reported year 2025/26, or Cabinet authorises any detailed spending proposals, be approved.   6. That authority be delegated to the Executive Director (Environment and Place), in consultation with Ward Members and the Cabinet Member (Planning and Housing) to agree how the CIL Ward Neighbourhood Allocations received up until 31 March 2025 (excluding allocation to Leigh Town Council) are to be spent.   Recommended:   7. That the appropriation of revenue funds to and (from) earmarked reserves, as set out in the report, be approved.   8. That the relevant budget carry forwards and accelerated delivery requests for the Capital Investment Programme totalling a net £6.540M moving into 2025/26 and future years, as set out at Appendix 1 to the report, be approved.   9. That the virements, reprofiles, additions, deletions, new external funding for schemes and transfers from the ‘subject to viable business case’ section of the programme, as set out at Appendix 1 to the report, be approved and it be noted that this will result in an amended Capital Investment Programme of £174.199M for the five-year period from 2025/26 to 2029/30, as set out at Appendix 2 to the report. (This is with the exception of £0.766M for the demolition of the Chalkwell Ramp and its replacement with a temporary access, which is subject to approval under the separate Chalkwell Ramp report at Minute 15 above).   Reasons for decisions:   1. To provide Cabinet with the provisional revenue and capital outturn position for 2024/25.   2. As part of the year end processes, Cabinet is required to approve any appropriations to or from earmarked reserves. This report fulfils that purpose.   3. Cabinet is required to approve capital budget carry forwards, accelerated delivery requests and in year amendments to the current approved programme.   Other options:   This is a factual report setting out the 2024/25 outturn and is a reporting requirement of good financial governance and follows and complies with the good practice identified with CIPFA’s Financial Management Code which became mandatory from 2021/22.  Changes could be made to the amounts appropriated to and from earmarked reserves, which would result in a compensating adjustment to the amount taken to or from general reserves.   Note: This is an Executive Function save that the decisions in Resolutions 7 to 9above constitute a Council Function. Cabinet Members: Cllr Cowan and Cllr Collins Not eligible for call-in