Agenda item

Report of Cabinet Member for Finance and Assets, Councillor Peter Jeffries

The Cabinet Member for Finance and Assets introduced the report, which is testament to the remarkable achievement of the finance team in overcoming the overspends and turmoil of recent years to restore relative calm.  The report will go to Full Council for approval, and the recommendation should reflect this.  

The Cabinet Member for Major Developments and Housing Regeneration complemented the Cabinet Member for overseeing this great achievement in tough times.

RESOLVED THAT:

1.    Council receives the financial outturn performance position for the General Fund and notes that in delivering services in 2024/25, after the application of carry forward requests and following the use earmarked reserves, there was an underspend of £913 against the 2024/25 revised budget approved by Council on 21 February 2025;

2.    £420,144 of carry forward, approved by the Section 151 Officer under delegated powers at Appendix 5, is noted;

3.    the annual treasury management report at Appendix 7 and the actual 2024/25 prudential and treasury indicators are noted;

4.    the capital programme outturn position as detailed in Section 7 of this report  and Appendix 8 is noted, and the carry forward of unspent budgets into 2025/26 is approved;

5.    the year-end position in respect of Section 106 agreements and partnership funding agreements at Appendix 9 is noted;

6.    the outturn position in respect of collection rates for council tax and non-domestic rates for 2024/25 in Appendix 10 is noted;

7.     the financial outturn performance position for the Housing Revenue Account for 2024/25 in Appendix 11 is received, and the carry forward of capital budgets from 2024/25 into 2025/26 as set out in Appendix 12 is approved.