RESOLVED:

That Cabinet Members:

1.     Noted that the position set out in the report reflects the best information available after the first 4 weeks of the year (with c90% of the year remaining), and hence considerable uncertainty in these early estimates which will be taken forward as a ‘floor’ position. P2 will be expected to help set out a ‘ceiling’ position, resulting in a ‘control corridor’ which can be considered in future reports.

2.     Noted that at the end of Period 1 (30th April 2024), the indicative level of savings delivery is £47.907m (77%), resulting in a projected spend over budget of £29.006m for 2024/25.

3.     Noted the projected General Fund Balance of £9.815m for 31 March 2025 if the projected spend over budget is realised.