Content

The committee had no specific recommendations
for the Executive, it noted the report, management actions and the
recommendations to the Executive:
 
a)           
Notes Council is now forecasting a balanced revenue position
(on-budget).
b)           
Notes the total Council Revenue forecast underspend of
£8.479m for the year. There is a forecast underspend of
£2.419m within Service Directorates for 2024/25 and the
Corporate Contingency of £6.000m, whilst remains unallocated
it has been released into the forecast outturn within budget lines
Table 1.
c)           
Note that the planned use of reserves of £36.800m for Medium
Term Financial Plan (MTFP) Support towards the budget is forecast
to reduce by of £8.479m to £28.321m, due to the
forecast underspend within budget lines.
d)           
Agree that mitigating actions are to be identified in order to reduce any overspends, to take action
and to contribute to the long-term financial sustainability of the
authority.
e)           
Agree that the Council continues with the aim of avoiding a Section
114 notice by taking all of the
necessary actions and continuing to operate as if one has been
issued.
f)            
Note the progress and delivered savings of £13.114m of the
approved savings programme as set out in Table 2 and Appendix
J.
g)           
Notes that work will continue to find mitigating or substitute
savings for the £0.432m of Red unachievable savings, deliver
the £5.142m Amber at risk savings and the £20.189m
Green on track savings.
h)           
Note the in-year forecast overspend on the Dedicated Schools Grant
of £28.259m, an increase of £2.419m from Month 5 (in
paragraph 14).
i)            
Note the total forecast Dedicated Schools Grant year-end deficit of
£64.199m as set out in Appendix C.
j)            
Note the collection rates for Council Tax and Business Rates as set
out in paragraph 24.
k)           
Note the quarterly update on the prudential indicators detailed in
Appendix L.
l)            
Note the outstanding debt position as detailed in Chart 3 and
Appendix M.
m)         
Note the level of General Reserves is £52.4m (risk-based
assessment – minimum £30m, maximum £60m).
n)           
Approves the additional Quarter 2 capital slippage of
£75.690m into future years
o)           
Approves £22.123m of externally funded additions to the
capital programme, as detailed in Section 34 of this report.
p)           
Notes £2.708m of virements within the capital programme, as
shown in Appendix O.