2024/2025 Quarter Two Finance Update:
Meeting: 16/12/2024 - Executive Board (Item 50)
2024/2025 Quarter Two Finance Update:
To follow.
Additional documents:
- ELDC Q2 - Covering Report - Exec Board FINAL 12.12.24, item 50
PDF 189 KB
- APPENDIX A - ELDC Q2 - Appendix A - Exec Board 241216, item 50
PDF 696 KB
Decision:
1) That the general fund forecast for the full year forecast outturn position for 2024/25 being an underspend of £822k as detailed in Table 1 of Appendix A to the report be noted.
2) That the amendment of the Capital Programme for 2024/25 by £263k as shown in Appendix A - Table 4b to the report be approved.
3) That a commitment from the Carbon Reduction Reserve of £102k in advance of awaited funding announcements to support this area of work be approved.
Minutes:
A report was presented to summarise the current financial position for the Council at the end of the second quarter of 2024/25 forecasting to the year end.
During his introduction of the report the Portfolio Holder for Finance referred Members to Appendix A which provided information on the full year forecasted financial performance at 30 September 2024 for the following areas:
• The General Fund Revenue Budget,
• The General Fund Reserves Position,
• The Capital Programme for 2024/25, and
• The Treasury Management Performance for the year.
Full details were contained in Sections 1 and 2 of the report, pages 1 to 2 of the Supplementary Agenda refer.
The Leader of the Council stated that he was assured of the careful management of the Portfolio Holder for Finance and Section 151 Officer and was confident that the Council was in a good place and that the challenges the Council faced was well managed and understood.
RESOLVED
1) That the general fund forecast for the full year forecast outturn position for 2024/25 being an underspend of £822k as detailed in Table 1 of Appendix A to the report be noted.
2) That the amendment of the Capital Programme for 2024/25 by £263k as shown in Appendix A - Table 4b to the report be approved.
3) That a commitment from the Carbon Reduction Reserve of £102k in advance of awaited funding announcements to support this area of work be approved.
Reason
To ensure the Council’s forecast financial position for 2024/25 is considered and related decisions approved. It is important that the Executive are aware of the financial position of the General Fund to ensure that they can make informed decisions that are affordable and financially sustainable for the Council.
Other Option
To not approve the financial movements outlined.