Decision details
Financial Monitoring Report Quarter 1 2024/25
Decision Maker: Cabinet
Decision status: Recommendations Approved
Is Key decision?: Yes
Is subject to call in?: Yes
Purpose:
This report estimates the Council’s year
end position based on information on Quarter 1.
Decision:
RESOLVED:
That Cabinet Members:
A. Direct the Chief Executive to lead all Officers in urgently taking the necessary actions to improve the Quarter 1 forecast of a projected spend over budget of £38.5m (30th June 2024), by year end, predominantly focussing on remaining savings or mitigating actions to be delivered in 2024/25.
B. Discussed the impact of the projected expenditure forecast on the General Fund Balance and noted the risk of further service pressures (savings required) in next year if financial performance in the current year is not improved.
Report author: Ben Jay
Publication date: 11/09/2024
Date of decision: 11/09/2024
Decided at meeting: 11/09/2024 - Cabinet
Effective from: 19/09/2024
Accompanying Documents:
PDF 3 MB