Agenda item

Report of Assistant Director Finance (S151 Officer)

Purpose of report

To report to the Executive the council’s forecast yearend financial position as at the end of the January 2025.

Recommendations

The Executive resolves:

1.1           To consider and note the contents of the council’s financial management report as at the end of January 2025.

1.2           To approve the reprofiling of capital projects beyond 2024/25 (section 4.2.3 and Appendix 1) and the subsequent update to the programme budget for this financial year 2024/25.

1.3           To approve the Use of Reserve and Grant Funding Requests in Appendix 5.

1.4           To approve the New Planning & Building Control fee proposal within Appendix 6.

1.5           To remove capital project (40315) S106 – Longford Park Sport Pitches £0.010m from the programme as it is not required as capital expenditure and agree for it to be transferred to revenue grant earmarked reserves to be used for ongoing maintenance.

Resolved

(1)          That the council’s financial management report as at the end of January 2025 be noted.

(2)          That the reprofiling of capital projects beyond 2024/25 (set out in section 4.2.3 and Appendix 1 of the report) and the subsequent update to the programme budget for this financial year 2024/25 be approved.

(3)          That the Use of Reserve and Grant Funding Requests (set out in Appendix 5 to the report) be approved.

(4)          That the New Planning & Building Control fee proposal (set out in Appendix 6 to the report) be approved.

(5)          That it be agreed to remove capital project (40315) S106 – Longford Park Sport Pitches £0.010m from the programme as it is not required as capital expenditure and it be agreed for it to be transferred to revenue grant earmarked reserves to be used for ongoing maintenance.

The Assistant Director Finance (S151 Officer) submitted a report to advise the Executive of the council’s forecast yearend financial position as at the end of the January 2025.

Resolved

(1)          That the council’s financial management report as at the end of January 2025 be noted.

(2)          That the reprofiling of capital projects beyond 2024/25 and the subsequent update to the programme budget for this financial year 2024/25 be approved.

(3)          That the Use of Reserve and Grant Funding Requests as set out in the Annex to the Minutes (as set out in the Minute Book) be approved.

(4)          That the New Planning & Building Control fee proposal as set out in the Annex to the Minutes (as set out in the Minute Book) be approved.

(5)          That it be agreed to remove capital project (40315) S106 – Longford Park Sport Pitches £0.010m from the programme as it is not required as capital expenditure and it be agreed for it to be transferred to revenue grant earmarked reserves to be used for ongoing maintenance.

Reasons

The report updates Executive on the projected year-end financial position of the council for 2024/25. Regular reporting is key to good governance and demonstrates that the council is actively managing its financial resources sustainably.

Alternative options

Option 1: This report summarises the council’s forecast financial position up to the end of March 2025, therefore there are no alternative options to consider.