Issue - meetings

Assistant Director of Finance (S151 Officer)and Assistant Director – Customer Focus

Purpose of report

To report to Executive the council’s financial position and performance at the end of Year 2024-25.  

Recommendations

The Executive resolves:

1.1           To consider and note the contents of the council’s financial and performance report at the End of Year 2024-25.

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 2025/26. 

1.3           To approve the reserve movements in Appendix 5. 

1.4           To note outturn for 2024/2025 which is a surplus of (£0.162m) after the proposed contributions to reserves of £2.020m

(Please note that there is no appendix 6 to this report)

Resolved

(1)            That the council’s financial and performance report at the End of Year 2024-2025 be noted.

(2)            That the reprofiling of capital projects beyond 2024-2025 (section 4.2.3 and Appendix 1) and the subsequent update to the programme budget for this financial year 2025-2026 be approved. 

(3)            That the reserve movements (Appendix 5 to the report) be approved.

(4)            That the outturn for 2024-2025, which is a surplus of (£0.162m) after the proposed contributions to reserves of £2.020m, be noted.

The Assistant Director of Finance (S151 Officer) and Assistant Director – Customer Focus submitted a report to report to Executive the council’s financial position and performance at the end of Year 2024-2025. 

Resolved

(1)            That the council’s financial and performance report at the End of Year 2024-2025 be noted.

(2)            That the reprofiling of capital projects beyond 2024-2025 (annex to the Minutes as set out in the Minute Book) and the subsequent update to the programme budget for this financial year 2025-2026 be approved. 

(3)            That the reserve movements (annex to the Minutes as set out in the Minute Book) be approved.

(4)            That the outturn for 2024-2025, which is a surplus of (£0.162m) after the proposed contributions to reserves of £2.020m, be noted.

Reasons

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

Alternative options

Option 1: This report summarises the council’s forecast financial position and performance position up to the end of End of Year 2024-25, therefore there are no alternative options to consider.