Decision Maker: Cabinet

Outcome: Recommendations Approved

Is Key Decision?: No

Is Callable In?: Yes

Date of Decision: November 13, 2024

Purpose: To provide Cabinet with an integrated finance and performance update against Our City: Our Plan priorities for 2024-2025.

Content: That Cabinet note: 1.    That the General Fund projected outturn for 2024-2025 is currently projecting an underspend of £160,000. 2.    That the Housing Revenue Account (HRA) projected outturn for 2024-2025 is currently projecting pressures of £2.2 million which would reduce the amount available to finance the capital programme. 3.    That the Director of Finance had approved write-off of debts against the expected credit loss provision as detailed in Appendix 3 to the report. 4.    That the Strategic Risk Register was last approved by Cabinet on 12 June 2024 and the latest reiteration detailed in Appendix 4 to the report would be presented to Audit and Risk Committee on 25 November 2024.   That Cabinet approve: 1.    The use of £300,000 from the Public Health Reserve to fund costs related to children’s mental health as detailed in paragraph 8.7 of the report and establishment of associated supplementary budgets.   2.    The use of £400,000 from the Insurance Reserve to fund anticipated premium costs and costs of claims as detailed in paragraph 8.8 of the report and establishment of associated supplementary budgets.   3.    29 virements totalling £11.3 million on the General Fund, for transfers within directorates, as detailed in Appendix 6 to the report.   4.    Delegation to Director of Finance to action pay award virements as detailed in paragraph 4.10 and included in Appendix 6 to the report.   5.    The write-off of debts against the expected credit loss provision as detailed in Appendix 3 to the report.   6.    The General Fund Budget Risks 2024-2025 register as detailed in Appendix 5 to the report.   7.    The Strategic Risk Register as detailed in Appendix 6 to the report.   8.    The establishment of supplementary budgets within 2024-2025 as detailed in Section 7 of the report.