Decision

RESOLVED
that Cabinet:-
 

1.   
Note the final position for the General Fund which
showed cumulative cost pressures for the year of £18.118M
(after adjusting for statutory balances, scheme slippage and known
expenditure commitments in 2024/25 – see Appendix 1), an
improvement of approximately £2.0M on the position reported
at Q3; and
 

2.   
Approve the release of reserves previously earmarked
and deliver a balanced budget in line with the MTFS; and
 

3.   
Note the final position on the Housing Revenue
Account, which showed cumulative cost pressures of £0.392M
funded from a transfer from reserves; and
 

4.   
Approve the write off of
historic bad debts totalling £1.023M as detailed in Section 4
[NB: all debts remain liable for collection]; and
 

5.   
Note that the final position reported and subsequent
use of reserves to deliver a balanced budget was not sustainable
and in line with the recently approved updated MTFS, task the
Council’s Senior Management Team with managing and mitigating
effectively the ongoing impact of the pressures highlighted with in
the report within the agreed resources in 2024/25 and beyond, in
order to minimise the need to deliver further efficiency
savings/make more difficult decisions.