Purpose

To provide an overview of the financial outturn for the year 2024/25 and to seek approval of associated financial decisions related to the end of year accounting processes.

Decision

(a)     that the financial outturn position for 2024/25, as set out in the Officer report and its appendices, be noted;

(b)     that the financing of General Fund capital expenditure for 2024/25, as detailed in Appendix D, be approved;

(c)     that the movement in uncommitted and earmarked General Fund reserves for 2024/25, as set out in Appendix E, be approved;

(d)     that the General Fund revenue carry forward items totalling £15.093m, as set out in column 4 of Appendix K, be approved;

(e)     that the General Fund capital carry forwards totalling £59.477m, as set out in Appendix D, be approved;

(f)       that, in respect of the HRA, the movement on HRA balances for 2024/25, including any commitments set out within Appendices H and/or I, along with recharges to the HRA from the General Fund of £3.025m for the year and the financing of the HRA capital expenditure, as set out in Appendix I, be approved; and

(g)     that the overall General Fund outturn variance of £5.417m for 2024/25 that is being carried forward via the Revenue Commitments Reserve be noted; and

(h)     that Cabinet be recommended to approve the proposed allocations from the variance amount, as set out within Table 3.

Reasons for the decision

To set out the final financial position of the Council for 2024/25 and to approve the associated end of year accounting and technical adjustments and processes.

Alternative options considered

These are broadly covered in the main body of the Officer report.