Issue - meetings

Report of the Executive Director – Corporate Services and Commercial

The Cabinet considered the report of the Executive Director – Corporate Services and Commercial informing the Cabinet of:

1)    The current position relating to the 2024/25 revenue budget.

2)    The current forecast on Council Tax and Business Rates collection for 2024/25.

3)    The monitoring position of the Council’s capital programme to the end of December 2024:

·       The forecast expenditure to year end.

·       Variations against the approved budgets and an explanation of those variations for consideration by Members.

·       Updates to spending profiles and proposed amendments to capital budgets necessary to ensure the efficient delivery of capital projects.

4)    The latest prudential indicator information for 2024/25 and the current Corporate Risk Register.

The following appendices were attached to the report:

·       Appendix A – Capital Programme 2024/25 To 2026/27

·       Appendix B – Corporate Risk Register – December 2024

Decisions Made:

That

Revenue Outturn

(1)      the current position relating to the 2024/25 revenue budget be noted;

(2)      the actions being taken to refine forecasts and identify mitigating efficiencies to ensure each service achieves a balanced position be noted;

(3)      the remedial action plan measures previously approved by the Cabinet on 7 November 2024, as outlined in section 3 of the report, be noted;

(4)      the intention to review and release Earmarked Reserves to support the additional in-year budget pressure and reduce the call on the Council’s General Balances be noted;

(5)      the financial risks associated with the delivery of the 2024/25 revenue budget be recognised and it be acknowledged that the forecast outturn position will continue to be reviewed, and remedial actions put in place, to ensure a balanced forecast outturn position and financial sustainability can be achieved;

Capital Programme

(6)      the spending profiles across financial years for the approved capital programme, as set out at paragraph 8.1 of the report, be noted;

(7)      the latest capital expenditure position as at 31 December 2024 of £35.517m, as set out at paragraph 7.3 of the report; and the latest full year forecast is £73.809m, as set out at paragraph 7.4 of the report, be noted;

(8)      a supplementary capital estimate of £0.488m for the Alt Catchment Natural Flood Management Programme funded by an external grant from the Environment Agency, as set out at paragraph 7.8 of the report, be approved;

(9)      an increase of £0.724m to the Disabled Facilities Grant (DFG) block allocation funded by an external grant from the Better Care Fund, as set out at paragraph 7.9 of the report, be approved;

(10)    a supplementary capital estimate of £0.300m for the DFG Core Grant funded by an external grant from the Better Care Fund, as set out at paragraph 7.10 of the report, be approved;

(11)    a supplementary capital estimate of £0.046m for Community Equipment Purchases funded by an external grant from the Better Care Fund, as set out at paragraph 7.10 of the report, be approved;

(12)    a supplementary capital estimate of £0.085m for the Retail Model within Health and Wellbeing Hubs funded by an external grant from the Better Care Fund,  ...  view the full minutes text for item 101