Purpose

This report presents the 2024-25 in-year
financial performance to Month 2 (May) for noting by Cabinet and
seeks approval for any capital variations, reprofiling, exception
measures or new reserves. The report also seeks approval of the
approach for setting the annual revenue and capital budget for
2025-26 and agreement of the council's Productivity Plan.

Content

1)            
Cabinet notes the forecast risk position for the
General Fund, which indicates a potential forecast overspend risk
of £10.137m.

 
2)            
Cabinet notes the forecast outturn includes a
forecast overspend risk of £1.600m on the NHS managed Section
75 services.

 
3)            
Cabinet notes the forecast overspend risk for the
separate Housing Revenue Account (HRA), which is an underspend of
£0.020m.

 
4)            
Cabinet notes the forecast overspend risk for the
ring-fenced Dedicated Schools Grant, which is an overspend of
£0.456m.

 
5)            
Cabinet notes the forecast position on the Capital
Programme which is an underspend variance of
£0.339m.

 
6)            
Cabinet approves the capital budget variations and
re-profiling requests set out in Appendix 5.

 
7)            
Cabinet approves the new capital schemes requested
in Appendix 6.

 
8)            
Cabinet notes the Treasury Management Update as set
out in Appendix 7.

 
9)            
Cabinet notes the council’s Productivity Plan
response at Appendix 8.