Decision Maker: Strategy and Resources Policy Committee

Outcome: Recommendations Approved

Is Key Decision?: Yes

Is Callable In?: No

Date of Decision: May 19, 2025

Purpose: To present the Committee with the Period 12 provisional outturn report and identify any additional financial approvals that are required.

Content: The Committee RESOLVED:   To note:   1. The council’s General Fund forecast outturn revenue position of £(0.2) million underspend against the budget (see Appendix A1a).   2. The performance on delivery of savings as summarised in Appendix A1a and detailed in Appendix A2.   3. The council’s outturn position of £(4.5) million underspend within the Housing Revenue Account before £10.1 million contribution to the funding of capital investment. This will result in the draw down of £5.5 million HRA general reserve at the year end.   4. The council’s outturn position of a £25.5 million overspend in the Dedicated Schools Grant and that this brings the carry forward deficit to £62.6 million.   5. The breakeven position on Public Health services.   6. The breakeven position on the Bristol Harbour Fund.   7. The council’s underspend of £(39.4) million against the Capital Programme revised budget 2024/25, comprised of £(32.8) million underspend on the General Fund, £(6.4) million underspend on the HRA and £(0.2) million underspend on the Bristol Harbour Account.   8. The in-year collection levels for Council Tax and Business Rates as set out in section 8 of Appendix A1a.   9. The level of aged debt as at 31 March 2025 as set out in section 9 of Appendix A1a.   10. Use of reserves and draft closing reserve balances as set out in section 10 in Appendix A1a.   11. The draw down of £8.9 million of Flexible Use of Capital Receipts to support delivery of the Top 5 Transformation programmes in line with the approved strategy.   12. The Officer finance key decision (no. 42 – dated 24 March 2025) Household Support Fund 7 (Local Crisis and Prevention Fund allocation for 2025/26) to approve the allocation of £700,000 to the council’s Local Crisis and Prevention Fund to help c.3,000 low-income households in crisis.   13. The Officer finance key decision (no.43 – dated 17 April 2025) Household Support Fund 7 (free school meal vouchers for May 2025 half term) to approve and spend £352,500 to provide free school meal vouchers to 23,500 children over the May half term holidays.   14. And supports incorporation of the budget management framework principles.   To approve (unanimous vote in favour):   1. The transfer to or draw down from the General Fund Reserve in order to balance the outturn position following the final Statement of Accounts.   2. The draw down from the HRA Reserve in order to balance the outturn position following the final Statement of Accounts.   3. The transfer of the DSG in year deficit to the DSG Reserve following the final Statement of Accounts.   4. The reprofiling of up to £39.4 million of the Capital Programme’s 24/25 underspend into future years.   5. The release of £46.5 million corporate funds (including £20.3 m for inflation, £11 m for pay awards and £10.6m optimism bias/savings contingency,) as approved in the 2024/25 budget but not initially allocated.   6. The planned financial reporting timetable for 2025/26.