Decision

RESOLVED
that Cabinet:-
 
(i)           
Note the final position for the General Fund which
shows cumulative cost pressures for the year of £4.2M (after
adjusting for statutory balances, scheme slippage and known
expenditure commitments in 2025/26 – see Appendix 1), an
improvement of approximately £4.0M on the position reported
at Q3;

 
(ii)         
Approve the release of £4.2M of reserves
earmarked to mitigate the overall year end cost pressures and
deliver a balanced budget in line with the MTFS;
 
(iii)        
Note the current High Needs (SEND) deficit of
£13.9M (net of £14.6M DfE Safety Net Value Payments),
an increase of £3.5M in 24/25. This deficit is currently
subject to a statutory override by Government but may be removed
moving forwards resulting in a future cost pressure to the
Council;
 
(iv)        
Note the final position on the Housing Revenue
Account, which shows net surplus income for the year of
£1.574M;
 
(v)         
Approve the write off of historic bad debts totaling
£0.994M as detailed in Section 4; and
 
(vi)        
Note that whilst the latest MTFS update acknowledges
ongoing and new cost pressures next year, the future position
remains uncertain pending the outcome of the Government reforms
(social care/funding/other) and future LG settlement. The MTFS will
be updated combined with a mid year budget review is to be
conducted following these reforms and will be reported to Cabinet
accordingly.