Purpose

Outturn report on the spend against the
2024/25 revenue budget.

Decision

Cabinet note:
 
1.     
The net revenue expenditure on services in 2024/25, before year end
transfers to reserves, resulted in a favourable variance of
£1.09M lower than the budget approved by Council in February
2024, as detailed in sections 2 and 7 of the report;

 
2.     
The year end contributions to reserves that have been proposed in
line with financial policies, as detailed in section 3 of the
report;
 
3.     
The achievement of planned savings and pressures for 2024/25 as
detailed in section 7 of the report; and
 
4.     
That budget virements amounting to £0.85M were processed
during quarter four, as summarised in section 8.
 
Cabinet requests Council to approve:
 
The proposed transfer of the outturn surplus
of £1.09M to earmarked revenue reserves as detailed in
section 3 of the report:
 
·       
To the Budget Carry Forward Reserve £0.80M; and
·       
To the MTFS Risk Reserve £0.29M