Issue - meetings

Background:

The report presented the results of the second round of the Council’s revenue budget monitoring process for 2024/25. The forecast outturn for 2024/25 represented a pressure of £11.221 million, an improvement of £5.252 million from the position reported at Round 1. The Leader thanked the Corporate Management Team and officers for their ongoing work.

It was noted that since approval of the budget in February 2024, a number of changes to grant funding had been confirmed, primarily the Household Support Fund and in relation to various schools funding allocations. The net impact of those amendments took the Round 2 budget requirement to a total of £436.239million.

Reasons:

The Full Council is responsible for agreeing a balanced budget in advance of each financial year. The Cabinet is responsible for ensuring that income and expenditure remain within the approved budget, including instructing corrective action to prevent any forecast overspend from materialising.