Agenda item

Report of the Group Director of Operations.

The Cabinet Member with the Resources Portfolio introduced the report of the Group Director of Operations (previously circulated) providing an early 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 first revenue budget management report to Cabinet for 2024/25 and that the latest projections showed an overall decline of £1.376m on the 2024/28 Medium Term Financial Plan, which was due to £2.542m of departmental pressures and a reserves contribution of £0.155m, 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.