Decision Maker: Cabinet

Outcome: Recommendations Approved

Is Key Decision?: No

Is Callable In?: No

Date of Decision: September 11, 2024

Purpose: Budget monitoring report 2024-25 Quarter 1

Content: DECISION   1.    Note the council’s quarter 1 forecast outturn position as at 30th June 2024, against the approved General Fund budget (£13.3m overspend), Housing Revenue Account budget (£3.9m overspend), and Dedicated Schools Grant (DSG) budget (£2.6m overspend). This is a relatively early forecast in the 2024/25 financial year, affording us an opportunity to implement mitigating actions for forecast overspends which will be reported as part of the quarter 2 budget monitor.   2.    Note the council’s quarter 1 forecast outturn position as at 30th June 2024, against General Fund and Housing Revenue Account capital programme revised budgets for 2024/25.   3.    Approve £6.1m of capital growth and £1.6m capital reductions, as detailed in paragraph 7.18 of the report and Appendix 7 to the report, as previously reported to Capital Strategy Board.   4.    Note the progress made against the 2024/25 savings targets, based at 30th June 2024.   5.    Note that there are no equalities implications directly resulting from this report, as set out in Section 10 of the report.   Action by CORPORATE DIRECTOR RESOURCES (J. LORRAINE) Director of Finance, Procurement and Audit (A. Kassim)