Decision Maker:

Outcome: Recommendations Approved

Is Key Decision?: No

Is Callable In?: Yes

Date of Decision: June 11, 2025

Purpose:

Content: RESOLVED that Cabinet:-   (i)            Note the final position for the General Fund which shows cumulative cost pressures for the year of £4.2M (after adjusting for statutory balances, scheme slippage and known expenditure commitments in 2025/26 – see Appendix 1), an improvement of approximately £4.0M on the position reported at Q3;   (ii)          Approve the release of £4.2M of reserves earmarked to mitigate the overall year end cost pressures and deliver a balanced budget in line with the MTFS;   (iii)         Note the current High Needs (SEND) deficit of £13.9M (net of £14.6M DfE Safety Net Value Payments), an increase of £3.5M in 24/25. This deficit is currently subject to a statutory override by Government but may be removed moving forwards resulting in a future cost pressure to the Council;   (iv)         Note the final position on the Housing Revenue Account, which shows net surplus income for the year of £1.574M;   (v)          Approve the write off of historic bad debts totaling £0.994M as detailed in Section 4; and   (vi)         Note that whilst the latest MTFS update acknowledges ongoing and new cost pressures next year, the future position remains uncertain pending the outcome of the Government reforms (social care/funding/other) and future LG settlement. The MTFS will be updated combined with a mid year budget review is to be conducted following these reforms and will be reported to Cabinet accordingly.