Purpose

To consider the third 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 3 for 2024/25
(£9.9m overspend) be noted.

2)   
That in line with Financial Procedure Rules the Service Director -
Finance would undertake a review of all balances and earmarked
reserves to fund any remaining overspend.

3)   
That authority be given to the wrap around school hours (8am to
6pm) child care for primary school aged pupils funding, and that
the proposed allocation method be noted.

4)   
That it be noted the Quarter 3 DSG deficit was forecast to increase
by £20.6m in 2024/25.

5)   
That the Quarter 3 forecast HRA position as breakeven and forecast
year-end reserves position of £21m be noted.

6)   
That the Quarter 3 forecast capital monitoring position for 2024/25
be noted, and that approval be given to a further net reduction in
the 2024/25 position of £33.3m due to £36.4m
re-profiling (£30.4m General Fund and £6m HRA) into
future years.

7)   
That approval be given to the £3.5m net increase in the
overall capital plan (£3.1m 2024/25, £0.4m 2025/26) due
to increased grant.

8)   
That the Quarter 3 treasury management prudential indicators be
noted.