Decision Maker: Executive

Outcome: Recommendations Approved

Is Key Decision?: No

Is Callable In?: Yes

Date of Decision: November 4, 2024

Purpose: The report provides comparative information on the Council’s revenue expenditure for the period for the first half of the financial year.  Members are invited to consider the financial performance and any corrective action that may be deemed appropriate.   The report provides summary information on the overall spending position against the revenue budgets in the current year, as set out in the following tables:-   General Fund Budget 2024/25 Budget to 30 Sept 24 Actual to 30 Sept 24 Variation   £000s £000s £000s £000s Service Budgets 16,096 1,532 904 -628 Non-Service Budgets -2,803 -33 -33 0 Net Budgets 13,293 1,499 871 -628   Revenue spending plans are currently showing a net underspend for the first half of the financial year. Any underspending achieved by the end of the year will reduce the need to call on the Council’s reserves for 2024/25 which was originally expected to be in the region of £404,200 when the base budget was agreed.   There are a number of areas where spend is in excess of the budget and some areas are likely to continue to be overspent through to the end of the financial year.  However, current forecasts against the base budget are predicting that the half-way position overall will continue to the end of the year.   It therefore remains appropriate to continue to monitor financial performance closely over the remainder of the financial year to ensure that any slippage does not change this position or adversely affect the services provided to residents and customers.  Commentary on the most significant variations is set out in the briefing paper accompanying the report.

Content: RESOLVED that the Executive notes the General Fund Revenue Monitoring Report.