Issue - meetings

Reporting Person – Stephen Fitzgerald

The Executive RESOLVED

That  (i)    the Council’s Revenue and Capital forecasts for the General Fund and Housing Revenue Account monitoring position be noted; and

          (ii)   it be noted that the Corporate Leadership Team will continue to identify mitigations to enable the net expenditure for 2024/25 to be contained within the budgets approved by Council on 8^th February 2024 and 4^th March 2024.

Reason:   Controlling the outturn within budget is essential to maintain financial control and to support the journey to financial sustainability.

The Executive received a report which set out the material financial issues identified since the 2024-25 budget was set, based on the income and expenditure as at end of December 2024.  A General Fund projected underspend of £0.460m was indicated for 2024-25, with risks to the forecast revenue outturn position identified from parking and investment income, and demand-led homelessness pressures.

RESOLVED

That  (i)    the Council’s Revenue and Capital forecasts for the General Fund and Housing Revenue Account monitoring position be noted; and

          (ii)   it be noted that the Corporate Leadership Team will continue to identify mitigations to enable the net expenditure for 2024/25 to be contained within the budgets approved by Council on 8^th February 2024 and 4^th March 2024.

Reason:   Controlling the outturn within budget is essential to maintain financial control and to support the journey to financial sustainability.