Decision details

RESOLVED that:

(1)       the outturn position in respect of the 2024/25 financial year be noted.

(2)       the proposed carry forward of capital budgets detailed in Appendix 4 to the report, totalling £16.462m be approved.

REASONS FOR DECISION – During 2024/25 the Council managed its budget effectively securing a favourable financial position on net cost of services of £1.209m underspend despite a continuing challenging financial backdrop.  This underspend has meant that rather than having to call on reserves it has been possible to contribute £1.084m to the Resilience reserve at outturn from efficiencies identified during the year.

The Capital Programme saw progress on approved schemes during the 2024/25 financial year.  There were, however, a number of schemes which were work in progress and this required that the associated expenditure and funding be carried forward into the 2025/26 financial year.

OTHER OPTIONS CONSIDERED AND REJECTED – The financial outturn report for 2024/25 was primarily a factual report detailing the actual position compared to previously approved budgets, therefore there were no alternative options that needed to be considered.

This was not a Key Decision and so can be implemented with immediate effect by officers.