Decision Maker: Cabinet, Council

Outcome: Recommmend Forward to Council

Is Key Decision?: No

Is Callable In?: No

Date of Decision: July 16, 2025

Purpose: To provide the outturn information 2024/25

Content: RESOLVED that Cabinet: - (a)     Noted the final outturn position for 2024/25; (b)    Agreed to set aside £0.5m in an earmarked reserve to manage the potential risk associated with future income streams from the introduction of the resident card pilot scheme in 2025/26. (c)     Agree the residual surplus of £0.7m is transferred to unearmarked reserves. (d)    Agree the capital virements between schemes funded by the bus services improvement plan as set out in appendix C1. (e)     Note that the museums capital scheme is forecast to exceed the approved resources by £0.55m, alongside a £0.8m shortfall in third party contributions as set out in appendix C3. (f)      Recommend that Audit and Governance Committee recommend to Council to approve the revised funding strategy for the Poole museums capital schemes which will mean an increase in the approved prudential borrowing of £1.3m as set out in appendix C3. RECOMMENDED that Council: Approves the revised funding strategy for the Poole museums capital schemes which subject to Audit and Governance Committee approval will mean an increase in the approved prudential borrowing of £1.3m. Voting: Unanimous Portfolio Holder: Finance Reason To comply with accounting codes of practice and best practice which requires councils to regularly monitor the annual budget position and take any action to support the sustainability of the council’s financial position. To comply with the council’s financial regulations regarding capital virements, acceptance of grants and new borrowing.