Purpose

To provide the outturn information
2024/25

Content

RESOLVED that Cabinet:
-

(a)    
Noted the final outturn position for 2024/25;

(b)   
Agreed to set aside £0.5m in an earmarked reserve
to manage the potential risk associated with future income streams
from the introduction of the resident card pilot scheme in
2025/26.

(c)    
Agree the residual surplus of £0.7m is
transferred to unearmarked reserves.

(d)   
Agree the capital virements between schemes funded by
the bus services improvement plan as set out in appendix
C1.

(e)    
Note that the museums capital scheme is forecast to exceed the
approved resources by £0.55m, alongside a £0.8m
shortfall in third party contributions as set out in appendix
C3.

(f)     
Recommend that Audit and Governance Committee recommend to
Council to approve the revised funding strategy for the Poole
museums capital schemes which will mean an increase in the approved
prudential borrowing of £1.3m as set out in appendix
C3.
RECOMMENDED that
Council:
Approves the revised
funding strategy for the Poole museums capital schemes which
subject to Audit and Governance Committee approval will mean an
increase in the approved prudential borrowing of £1.3m.
Voting:
Unanimous
Portfolio Holder:
Finance
Reason

To comply with accounting codes of practice and best practice which
requires councils to regularly monitor the annual budget position
and take any action to support the sustainability of the
council’s financial position.
To comply with the
council’s financial regulations regarding capital virements,
acceptance of grants and new borrowing.