Purpose

To consider the second quarter Revenue &
Capital Monitoring forecast and to consider any specific
recommendations on the application of resources in-year, including
movements to and from reserves, as required by financial procedure
rules.

Content

RESOLVED –
 

1)   
That the forecast revenue outturn position at Quarter 2 for 2024/25
(£9.9m overspend) be noted, and that Executive Directors
bring forward sustainable proposals to reduce the overspend to
bring the budget back into balance.

2)   
That it be noted the DSG deficit was forecast to increase by
£20.6m in 2024/25 as set out in the Quarter 2 forecast.

3)   
That the Quarter 2 forecast HRA position (£72k surplus) and
forecast year-end reserves position of £20m be noted.

4)   
That in noting the Quarter 2 forecast capital monitoring position
for 2024/25, approval be given to the re-profiling of £67.6m
(£62.9m General Fund and £4.7m HRA) of the 2024/25
capital plan into future years.

5)   
That approval be given to the £2.4m net increase in the
overall capital plan due to £4.7m increased grant and to
reduce borrowing by £2.3m (£1.8m 2024/25, £0.5m
2025/26) as set out at Appendicies 1 and 3 of the considered
report,

6)   
That the Quarter 2 treasury management prudential indicators as set
out at Appendix 1 of the report, be noted.