Decision details

To consider the report of the Cabinet Member for Finance and Corporate Services detailing an update on the Council's financial position for 2024/25.

(i)  Agree the £2.16M adjustments to be made to directorate budgets to reflect further sustained favourable variances reported at month 6 of 2024/25 due to transformation and other measures, to be transferred to centrally held contingency to reduce the reliance on Exceptional Financial Support (EFS), as set out in paragraph 6.

(ii)  Agree the progress being made to deliver on the Deficit Recovery Plans that have been developed to mitigate forecast overspends in several specified budget areas, as set out in paragraph 7.

(iii)  Recommend Council approve the virement of £24.30M Social Care Grant income budget from Non-Specific Government Grants (Centrally Held Funding) to Children & Learning (£9.53M) and Community Wellbeing (£14.77M) to reflect a change in the grant conditions from an un-ringfenced to a ringfenced grant, as set out in paragraph 8.

To ensure that Cabinet fulfils its responsibilities for the overall financial management of the council’s resources.

Not applicable.