Purpose

The purpose of the report allowed Executive to discharge its
responsibilities to manage and control the revenue budget, capital programme
and overall balance sheet position of the Council.

Decision

ORDERED that Executive:

Approve the proposed
amendment to Appendix nine of the report referring to Member’s Small Schemes
so that £150,000 be allocated in 2025/26 and £120,000 be allocated in
2026/27.
Approve the inclusion
of additional expenditure budgets to the Capital Programme totalling
£0.322m for 2024/25 which were externally funded and detailed in Appendix
six of the report. Subject to approval this would increase the approved
2024/25 Capital Programme budget to £107.463m.
Approve the proposed
virements over £250,000 between schemes in the 2024/25 Capital Programme
approved by Council in March 2024 which were funded from within existing
Council resources which were detailed in Appendix six of the report.

AGREED that Executive

1.   
Note the Council’s year-end financial
outturn for the financial year 2024/25, and the improved financial position
which included the following:

·        
increased levels of usable unrestricted
revenue reserves, with £21.654m available at 31 March 2025.

·        
an underspend of £2.257m on the revenue
budget.

·        
a requirement to use only £2.443m of the
£13.400m Exceptional Financial Support (EFS) approved in-principle by the
Ministry of Housing, Communities & Local Government (MHCLG).

·        
no requirement to borrow for the EFS, as
capital receipts already held will be used.