Agenda item - Targeted Budget Management (TBM) Provisional Outturn 2024/25

1)             Cabinet notes that the provisional General Fund outturn position is an underspend of £1.091m and that this represents an improvement of £2.416m compared to the projected and planned resource position at Month 9 and taken into account when setting the 2025/26 budget.

2)             Cabinet approves General Fund carry forward requests totalling £4.283m as detailed in Appendix 5 and assumed within the provisional outturn.

3)             Cabinet approves the proposed allocation of additional resources as set out in paragraph 11.3.

4)             Cabinet notes the provisional outturn for the separate Housing Revenue Account (HRA), which is a break-even position.

5)             Cabinet notes the provisional outturn position for the ring-fenced Dedicated Schools Grant, which is an overspend of £0.680m.

6)             Cabinet notes the provisional outturn position on the Capital Programme which is an underspend variance of £4.025m.

7)             Cabinet approves the capital budget variations and re-profiling requests set out in Appendix 7.

8)             Cabinet approves new capital schemes requested in Appendix 8.

9)             Cabinet notes the Treasury Management end of year review 2024/25 as set out in Appendix 10.

12.1      Cabinet considered a report that set out the Targeted Budget Management (TBM) Provisional Outturn 2024/25.

12.2      Councillors Muten, Taylor, Miller, Rowkins and Sankey asked questions and contributed to the debate of the report.

12.3      Resolved-

1)            Cabinet notes that the provisional General Fund outturn position is an underspend of £1.091m and that this represents an improvement of £2.416m compared to the projected and planned resource position at Month 9 and taken into account when setting the 2025/26 budget.

2)            Cabinet approves General Fund carry forward requests totalling £4.283m as detailed in Appendix 5 and assumed within the provisional outturn.

3)            Cabinet approves the proposed allocation of additional resources as set out in paragraph 11.3.

4)            Cabinet notes the provisional outturn for the separate Housing Revenue Account (HRA), which is a break-even position.

5)            Cabinet notes the provisional outturn position for the ring-fenced Dedicated Schools Grant, which is an overspend of £0.680m.

6)            Cabinet notes the provisional outturn position on the Capital Programme which is an underspend variance of £4.025m.

7)            Cabinet approves the capital budget variations and re-profiling requests set out in Appendix 7.

8)            Cabinet approves new capital schemes requested in Appendix 8.

9)            Cabinet notes the Treasury Management end of year review 2024/25 as set out in Appendix 10.