Purpose

To consider the Quarter 4 Financial Monitoring Report 2024/25.

Decision

(a)           That the draft revenue and capital outturn and the financial performance for the year ended 31 March 2024 be noted.

(b)           That the use of un-ringfenced reserves to support the 2023/24 final outturn in addition to increasing the general fund balance in line with financial strategy document, be approved.

(c)           That a transfer of £4.4m reserves to a ring-fenced reserve to support the Dedicated Schools Grant Safety Valve program and realignment of existing earmarked reserves as set out in section 11.6 of the report, be approved.