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Decision details

Finance Report Update (P7)

Decision Maker: Children and Young People Policy Committee

Decision status: Recommendations Approved

Is Key decision?: No

Is subject to call in?: No

Purpose:

To present the latest detailed financial outturn report

Decision:

The Committee RESOLVED to note:

1. The council’s General Fund forecast outturn revenue overspend of £21.4 million at P7 2024/25 against the council approved budget.

2. The performance on delivery of savings (Appendix A2).

3. The no change to Risks and Opportunities (Section B Appendix A2).

4. The forecast net outturn position of £15.3m in the Dedicated Schools Grant and that this brings the carry forward deficit to £90.5 million. Following the application of the DfE’s 24/25 Safety Valve combined with contribution from the General Fund, a total £52.4 million is forecast to be carried forward at the year end in the DSG deficit reserve.

5. The council’s forecast position against the Capital Programme revised budget 2024/25. (Appendix A2, Section C).

Report author: Sarah Chodkiewicz

Publication date: 27/01/2025

Date of decision: 23/01/2025

Decided at meeting: 23/01/2025 - Children and Young People Policy Committee

Accompanying Documents: