Decision Maker: Cabinet

Outcome: Recommendations Approved

Is Key Decision?: Yes

Is Callable In?: Yes

Date of Decision: July 15, 2025

Purpose: To note the outturn position for the year and approve earmarked reserves.

Content: RESOLVED that Cabinet:   i.       notes the outturn expenditure for 2024/25, subject to audit, of £96.614m, which represents an underspend of -£0.742m compared with the approved budget.   ii.     approves the budget carry forward of £0.011m (see paragraph 6.9).   iii.    approves the earmarked reserves as set out in Annexe C.   iv.    approves the virements up to £0.100m relating to the 2024/25 budget (see Annexe D).   RECOMMENDED that Council:   i.       notes the Treasury Management performance in 2024/25 as set out in Annexe B.   ii.     approves the virements over £0.100m relating to the 2024/25 budget (see Annexe D).

Reasons for the decision: The recommendations are intended to inform the Cabinet of financial performance against budget in the 2024/25 financial year.

Alternative options considered: The report sets out the Council’s actual financial performance in 2024/25 and the consideration of options is not therefore appropriate.