Issue - meetings

Report of Assistant Director of Finance (Section 151 Officer)

Purpose of report

To report to the committee the council’s financial position at the end of the financial year 2024-2025.

Recommendations

The Budget Planning Committee resolves:

1.1     To note the contents of this report.  

Resolved

(1)        That the report be noted.

The Assistant Director of Finance submitted a report which provided the forecast outturn position for the end of the financial year 2024-2025 based on the position as at 31 December 2024.

In introducing the report, the Portfolio Holder for Finance, Property and Regeneration advised the Committee that, the forecast outturn position for the Council for the 2024/25 financial year was an overspend of £43k. The forecast overspend was due to variations across Environmental Services, Property and Legal and Democratic. The Portfolio Holder for Finance, Property and Regeneration advised the Committee that all services were considering ways that the forecast overspend would be mitigated.

The Portfolio Holder for Finance Portfolio Holder for Finance, Property and Regeneration advised that the Council’s projected year end forecast for capital profiled spend was projected to be an in-year underspend of £.0438m with £0.270 recommended to be re-profiled into future years.

It was proposed by Councillor Reeves and seconded by Councillor Rogers that the meeting move into private session to consider exempt appendix 6.