Purpose

The report outlines the General Fund Revenue
and Capital outturn for the financial year 2024/25 and summarises
the Reserve balances as at 31 March
2025. It also considers the General Fund Revenue outturn for
2024/25 and to approve the Revenue and Capital Budget carry
forwards. The report also provides a statement of the year-end
financial position and progress with approved capital investment
projects.
 

Content

Cabinet has considered and reviewed the report and
appendices as presented and:

 

General Fund (GF): Revenue

 

(a) Noted the provisional General Fund revenue
outturn for 2024/25, as summarised at Appendix A.

(b) Noted the key factors which have led to the
underspend in the provisional 2024/25 General Fund Revenue outturn,
noting the explanations provided for the variances compared to the
revised 2024/25 revenue budget.

(c) Approved the carry forwards of £20,540 in
relation to General Fund revenue projects which were not undertaken
during the year as planned.

 

GF: Review of Reserves

 

(d) Noted the estimated balance of Reserves of
£35.315 million as at 31 March
2025.

 

GF: Capital

 

(e) Noted the 2024/25 General Fund Capital
provisional outturn of £27.707 million.

(f)   Noted the General
Fund Capital Programme schemes as shown in Appendix B.

(g) Approved the carry forwards of £8.164
million in relation to General Fund capital projects due mainly to
slippage.

(h)  Noted that a full
review of the Capital Programme will be submitted to Cabinet at its
December 2025 meeting to include re-phasing of the existing
programme and new Capital bids for the next budget
cycle.