Decision Maker: Cabinet, Council

Outcome:

Is Key Decision?: No

Is Callable In?: No

Date of Decision: July 8, 2025

Purpose: Outturn report on the spend against the 2024/25 revenue budget.

Content: Cabinet note:   1.      The net revenue expenditure on services in 2024/25, before year end transfers to reserves, resulted in a favourable variance of £1.09M lower than the budget approved by Council in February 2024, as detailed in sections 2 and 7 of the report;   2.      The year end contributions to reserves that have been proposed in line with financial policies, as detailed in section 3 of the report;   3.      The achievement of planned savings and pressures for 2024/25 as detailed in section 7 of the report; and   4.      That budget virements amounting to £0.85M were processed during quarter four, as summarised in section 8.   Cabinet requests Council to approve:   The proposed transfer of the outturn surplus of £1.09M to earmarked revenue reserves as detailed in section 3 of the report:   ·        To the Budget Carry Forward Reserve £0.80M; and ·        To the MTFS Risk Reserve £0.29M