Decision Maker: Cabinet
Decision status: Recommendations Approved (subject to call-in)
Is Key decision?: No
Is subject to call in?: No
A report outlining the forecast financial
position of the organisation at the end of 2024/25, based on the
information known at the end of the third quarter.
That Cabinet:
1. Notes the forecast net service overspend of £6.567m (1.6%) that would need to be funded from reserves at the end of 2024/25;
2. Notes the forecast delivery of savings for 2024/25 of £9.803m (61%), and the consequent shortfall against the target;
3. Notes the forecast controllable capital spend for 2024/25 of £169.172m;
4. Notes and approves the movement in the forecast spend on the capital programme of £13.447m from 2024/25 into future years;
5. Notes the new S106 developer funding that is being utilised within the capital programme; and
6. Approves the transfer of £0.472m from the Schools Absence Insurance Equalisation Reserve to the Schools Liability Reserve as detailed in Section 7 of the report.
Report author: Natalia Hodgetts
Publication date: 30/01/2025
Date of decision: 28/01/2025
Decided at meeting: 28/01/2025 - Cabinet
Accompanying Documents: