Decision Maker: Cabinet

Outcome: Recommendations Approved

Is Key Decision?: No

Is Callable In?: No

Date of Decision: December 3, 2024

Purpose: To consider the Council’s financial forecast outturn position for Quarter 2 2024/25 and amendments to the Capital Programme.

Content: RESOLVED: 1.             That the GFRA forecast outturn of £3.076m against budget be noted, together with the management action plan set out in this report. 2.             That the Dashboards to support the period 6 position be noted, which is set out in Annex A of this report. 3.             That the reserves position as detailed in Annex B are noted. 4.             That the Cabinet approved the additions and amendments to resource allocation and spend approval for the 2024/25 capital programme set out in Annex C. 5.             That the Cabinet recommend to Full Council to approve the additional borrowing of £4.001m to cashflow the remaining delivery of the MK East (HIF) project outlined in Annex C of the report in advance of the receipt of Tariff contributions from the MK East. 6.             The forecast outturn position on the 2024/25 Capital Programme as an overspend of £0.231m after slippage of £17.973m as detailed in Annex D of this report be noted. 7.             That the Treasury Management report including prudential indicators, as detailed in Annex E of the report is referred to Council for approval. 8.             That the virements to the original budget as detailed in Annex F of the report are approved. 9.             That the Cabinet approved the additions and amendments to resource allocation and spend approval for the 2024/25 Tariff programme set out in Annex G of the report.