Decision details

The Cabinet Member with the Resources Portfolio introduced the report (previously circulated) of the Executive Director - Resources and Governance providing a forecast of the 2024/25 revenue budget outturn as part of the Council’s continuous financial management process.

The submitted report stated that it was the second revenue budget management report to Cabinet for 2024/25 and that the latest projections showed an overall decline of £1.364m on the 2024/28 Medium Term Financial Plan, which was due to £2.519m of departmental pressures and a decline in corporate reserves of £0.166m, offset by £1.321m of additional balances following the 2023/24 outturn.

RESOLVED - (a) That the forecast revenue outturn for 2024/25, as detailed in the submitted report, be noted.

(b) That further regular reports be made to monitor progress and take prompt action if necessary.

REASONS - (a) To continue effective management of resources.

(b) To continue to deliver services to agreed levels.