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Decision details
Period 4 Finance Outturn Report
Decision Maker: Strategy and Resources Policy Committee
Decision status: Recommendations Approved
Is Key decision?: Yes
Is subject to call in?: No
Purpose:
To present the Strategy and Resources Policy Committee with the latest detailed financial outturn report and identify any additional financial approvals that are required.
Decision:
The Committee RESOLVED:
To note:
1. The council’s unchanged General Fund forecast outturn revenue overspend of £22.3 million at P42024/25 against the council approved budget of £533.7 million.
2. The unchanged performance on delivery of savings (Appendix A1, Section 3, Tables 2a and 2b).
3. The unchanged additional weighted net risk of £10.5 million per the risks and opportunities register (Appendix A1, Section 4, Tables 3a and 3b).
4. The council’s outturn position of £12.5 million overspend within the Housing Revenue Account to be transferred to the HRA general reserve at the year end (Appendix A1, Section 5.2).
5. The council’s outturn position of a net £13.0 million overspend in the Dedicated Schools Grant following the application of the DfE’s 24/25 Safety Valve combined with contribution from the General Fund and that a total £50.1 million is forecast to be carried forward at the year end in the DSG deficit reserve (Appendix A1, Section 5.3).
6. The unchanged breakeven position on Public Health services (Appendix A1, Section 5.4).
7. The unchanged breakeven position on the Bristol Harbour Fund. (Appendix A1, Section 5.5).
8. The council’s unchanged forecast underspend of £6.4 million against the Capital Programme revised budget 2024/25, comprised of £7.0 million underspend on the General Fund and £0.6 million overspend on the HRA. (Appendix A1, Section 6).
Report author: Tony Kirkham
Publication date: 18/09/2024
Date of decision: 16/09/2024
Decided at meeting: 16/09/2024 - Strategy and Resources Policy Committee
Accompanying Documents: