Issue - decisions

2024/25 Financial Monitoring - Forecast position at Quarter 3

30/01/2025 - 2024/25 Financial Monitoring - Forecast position as at Quarter 3

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.