Issue - meetings
Financial Performance Report for November 2024 (Period 8)
Meeting: 30/01/2025 - Policy and Resources Scrutiny Committee (Item 49)
49 Financial Performance Report for November 2024 (Period 8) PDF 390 KB
Additional documents:
- Appendix 1 - Period 8 - November 2024 Revenue Performance 2024-25, 13/01/2025 Cabinet, item 49
PDF 4 MB
- Appendix 2 - Period 8 - CIP 2024-25, 13/01/2025 Cabinet, item 49
PDF 762 KB
- Webcast for Financial Performance Report for November 2024 (Period 8)
Minutes:
The Committee received a report from the Executive Director (Finance & Resources) which had been referred direct by Cabinet on 13th January 2025. The report summarised the forecast position as at the end of November 2024 (period 8) which showed an overspend of £4,683 million which was an improvement of £0.962 million compared to the position reported at the end of September 2024. (Period 6).
The Committee asked a number of questions which were responded to by the Leader of the Council and the Cabinet Member for Finance, Assets and Investments.
During the debate there was a discussion on the reporting process, use of reserves and contingency provisions to reduce the projected overspend.
Resolved:
That the following recommendations to Cabinet, be noted:
“That, in respect of the 2024/25 Revenue Budget Performance as set out in appendix 1 to this report, Cabinet:
1. Notes the forecast outturn for 2024/25 for the General Fund and the Housing Revenue Account as at 30 November 2024.
2. Notes the plans and intentions to try to reduce the forecast overspend of the Council’s revenue budget for 2024/25 and agrees that the Chief Executive and Executive Director (Finance & Resources) continue to explore all opportunities within their delegated powers and authority to improve the financial position by the year-end (section 5).
That, in respect of the 2024/25 Capital Budget Performance as set out in appendix 2 of this report, Cabinet:
3. Notes the expenditure to date and the forecast outturn as at 30 November 2024 and how it will be financed.
4. Approves the requested changes to the capital investment programme for 2024/25 and future years, as set out in section 4 of appendix 2.”
Note: This is an Executive Function
Cabinet Members: Councillor D Cowan, Leader of the Council and Cabinet Member for Infrastructure and Corporate Strategy. Councillor P Collins, Cabinet Member for Finance, Assets and Investments.
Meeting: 13/01/2025 - Cabinet (Item 4.)
Financial Performance Report for November 2024 (Period 8)
Report of Executive Director (Finance and Resources) to follow
Additional documents: