Agenda item

AGREED that Cabinet:

(a)     note the General Fund projected favourable outturn variance of £0.719m;

(b)    note the Housing Revenue Account projected favourable outturn variance of £0.033m to the Major Repairs Reserve;

(c)     approve the variations to the Capital Programme at Appendix E;

(d)    approve the Capital Programme revised budget and financing of £49.467m; and

(e)     note the Prudential indicators at Appendix H.

The Assistant Business Manager - Financial Services presented a report which detailed the forecast outturn position for the 2024/25 financial year for the Council’s General Fund and Housing Revenue Account revenue and capital budgets, which detailed performance against the approved estimates of revenue expenditure and income; report on major variances from planned budget performance; and report on variations to the Capital Programme for approval; all in accordance with the Council’s Constitution.

The Cabinet considered details of the favourable and unfavourable variances reported, detailed in tables one and two of the report, and the HRA revenue outturn in table three of the report. The Council had been fully compliant with all prudential indicators during the reporting period.

AGREED      (unanimously) that Cabinet:

(a)         note the General Fund projected favourable outturn variance of £0.719m;

(b)        note the Housing Revenue Account projected favourable outturn variance of £0.033m to the Major Repairs Reserve;

(c)         approve the variations to the Capital Programme at Appendix E;

(d)        approve the Capital Programme revised budget and financing of £49.467m; and

(e)         note the Prudential indicators at Appendix H.

Reasons for Decision:

To consider the forecast outturn position for the 2024/25 financial year for the Council’s General Fund and Housing Revenue Account revenue and capital budgets.

To show performance against the approved estimates of revenue expenditure and income; report on major variances from planned budget performance; and report on variations to the Capital Programme for approval; all in accordance with the Council’s Constitution.

Options Considered:

Not applicable.