Decision details

2024/25 General Fund Revenue & Capital Budget Monitoring Report – Month 10 – End of January 2025

Decision status: Recommendations Approved

Is Key decision?: No

Is subject to call in?: No

Decision:

Following consideration of the officer report, appendices and discussion, the Executive resolved to:

 

  1. Note Council is now forecasting a balanced revenue position (on-budget).  
  1. Note the total Council revenue forecast underspend of £25.774m for the year. There is a forecast underspend of £19.714m within Service Directorates for 2024/25 and the Corporate Contingency of £6.000m, whilst remains unallocated it has been released into the forecast outturn within budget lines Table 1.  
  1. Note that the planned use of reserves of £36.800m for Medium Term Financial Plan (MTFP) Support towards the budget is forecast to reduce by £25.774m to £11.026m, due to the forecast underspend within budget lines (paragraph 18).  
  1. Agree that mitigating actions are to be identified in order to reduce any overspends, to take action and to contribute to the long-term financial sustainability of the authority.  
  1. Agree that the Council continues with the aim of avoiding a Section 114 notice by taking all of the necessary actions and continuing to operate as if one has been issued.  
  1. Note the progress and delivered savings of £33.346m of the approved savings programme as set out in Table 2 and Appendix J. 
  1. Note that work will continue to find mitigating or substitute savings for the £3.197m of Red unachievable savings, deliver the £0.310m Amber at risk savings and the £3.379m Green on track savings.  
  1. Note the in-year forecast overspend on the Dedicated Schools Grant of £30.738m, a decrease of £0.562m from Quarter 3 (paragraph 12).  
  1. Note the total forecast Dedicated Schools Grant year-end deficit of £64.649m as set out in Appendix C.  
  1. Note the collection rates for Council Tax and Business Rates as set out in paragraph 19.  
  1. Approve an addition to the Capital budget of £0.743m of Disabled Facilities Grants available which are fully funded by a grant from MHCLG  
  1. Note the Capital Programme forecast outturn at Month 10 is £151.956m.  
  1. Approve the additional Month 10 capital slippage of £0.356m into future years  
  1. Note the approved write-offs included in the confidential Appendix N.  

Publication date: 09/04/2025

Date of decision: 07/04/2025

Decided at meeting: 07/04/2025 - Executive

Accompanying Documents: