Decision details

The purpose of the report allowed Executive to discharge its responsibilities to manage and control the revenue budget, capital programme and overall balance sheet position of the Council.

ORDERED that Executive:

1. Approve the proposed amendment to Appendix nine of the report referring to Member’s Small Schemes so that £150,000 be allocated in 2025/26 and £120,000 be allocated in 2026/27.
2. Approve the inclusion of additional expenditure budgets to the Capital Programme totalling £0.322m for 2024/25 which were externally funded and detailed in Appendix six of the report. Subject to approval this would increase the approved 2024/25 Capital Programme budget to £107.463m.
3. Approve the proposed virements over £250,000 between schemes in the 2024/25 Capital Programme approved by Council in March 2024 which were funded from within existing Council resources which were detailed in Appendix six of the report.

AGREED that Executive

1.    Note the Council’s year-end financial outturn for the financial year 2024/25, and the improved financial position which included the following:

·         increased levels of usable unrestricted revenue reserves, with £21.654m available at 31 March 2025.

·         an underspend of £2.257m on the revenue budget.

·         a requirement to use only £2.443m of the £13.400m Exceptional Financial Support (EFS) approved in-principle by the Ministry of Housing, Communities & Local Government (MHCLG).

·         no requirement to borrow for the EFS, as capital receipts already held will be used.