Purpose

To provide an
integrated finance and performance update against Our City: Our
Plan priorities for 2024-2025.

Content

1.     
That it be noted, the General Fund projected outturn for 2024-2025
is currently forecast to be within budget.

2.     
That it be noted, the Housing Revenue Account (HRA) projected
outturn for 2024-2025 is currently projecting a balanced outturn
position for 2024-2025.

3.     
That it be noted, the Director of Finance had approved write-off of
debts against the expected credit loss provision as detailed in
Appendix 3 to the report.

4.     
That it be noted, the Strategic Risk Register was last approved by
Cabinet on 13 November 2024 and the latest iteration as detailed in
Appendix 4 to the report was presented to Audit and Risk Committee
on 10 March 2025.

5.     
That the additional use of up to £50,000 from the Budget
Contingency Reserve to fund Midpoint school deficit balance to
support its conversion to academy as detailed in paragraph 10.6 of
the report be approved.

6.     
That transfer of an additional £1.0 million into Treasury
Management Equalisation Reserve as detailed in paragraph 10.7 of
the report and detailed in paragraph 3.6 in Our Future Council -
Treasury Management Activity Monitoring Quarter Three 2024-2025
report be approved.

7.     
That the transfer of £600,000 into the Sustainable Medium
Term Financial Strategy (MTFS) Reserve as detailed in paragraph
10.9 of the report be approved.

8.     
That 17 virements totalling £11.5 million on the General Fund
for 2024-2025 and two virement totalling £230,000 on the
General Fund for 2025-2026, for transfers within directorates, as
detailed in Appendix 6 to the report be approved.

9.     
That the delegation to the Section 151 Officer (or deputy) to
approve essential virements in relation to recharges, Our Future
Council Programme activity and year end processes, as detailed in
section 13 of the report be approved.

10.  
That the write-off of debts against the expected credit loss
provision as detailed in Appendix 3 to the report be approved.

11.  
That the Strategic Risk Register as detailed in Appendix 4 to the
report be approved.

12.  
That the General Fund Budget Risks 2024-2025 register as detailed
in Appendix 5 to the report be approved.

13.  
That the establishment of supplementary budgets within 2024-2025
and 2025-2026 as detailed in Section 8 of the report be
approved.

14.  
That the Council enters into an agreement to make a grant payment
of £41,000 to Volunteer Matters for the provision of a
mentoring service, as detailed in Section 9 of the report.

15.  
That the Council enters into an agreement to make a grant payment
of £51,000 to certain special schools and £39,000 to
Voice for Parents to deliver a Short Breaks pilot, as detailed in
Section 9 of the report.

16.  
That the Adult Social Care fee uplift from 31 March 2025 and update
fee rates as shown in Section 5 of the report be approved to
implement.