Decision Maker:

Outcome: Recommendations Approved

Is Key Decision?: No

Is Callable In?: No

Date of Decision: February 11, 2025

Purpose:

Content: ·       Cabinet noted the forecast General Fund revenue budget position of a £16.1m overspend (paragraph 4.1) and the risks and opportunities included in Table 3 of the submitted report ·       Cabinet noted the forecast Housing Revenue Account (HRA) budget position of an overall net nil variance, but with a forecast contribution to HRA balances of £1.6m compared to a budgeted contribution of £3.4m (paragraph 4.32); ·       Cabinet noted the forecast Dedicated Schools Grant (DSG) position of a forecast £0.2m overspend compared to the budgeted deficit of £5.1m (paragraph 4.38 of the submitted report); ·       Cabinet noted the capital programme forecast position of an in-year variance on the General Fund capital programme of £11.1m and an in-year variance on the HRA capital programme of £29.9m (paragraph 4.39 of the submitted report); ·       Cabinet noted the performance against key corporate financial indicators, including forward-looking prudential indicators (paragraph 4.59 of the submitted report); ·       Cabinet approved the 2025/26 Schools Condition capital programme at Appendix D and the necessary budget virements to reflect the proposed programme in General Fund capital programme (paragraph 4.43 of the submitted report); ·       Cabinet delegated authority to the Director of Asset Strategy to approve variations to the budget allocations for individual projects included in the 2025/26 Schools Condition Programme including budget allocation for urgent projects within the overall programme budget (paragraph 4.46 of the submitted report).