This report sets out the provisional revenue and capital outturn positions for the Council’s General Fund and Housing Revenue Account (HRA) for 2024/25 as well as performance against the measures of success published in the Council’s Corporate Plan.

The Committee considered a report setting out the projected revenue and capital outturn positions for 2024/25 for the General Fund and the Housing Revenue Account (HRA) as at the end of Quarter 4 and the performance against the measures of success set out in the Council’s Corporate Plan.  The following documents were attached to the report:

·       Appendix 1 - Summary of the General Fund Outturn 2024/25

·       Appendix 2 - Recovery Plan 2024-25

·       Appendix 3 - Savings Tracker Quarter 4

·       Appendix 4 - General Fund Capital Programme Outturn

·       Appendix 5 - Delivery Fund

·       Appendix 6 - Housing Revenue Account (HRA) Revenue Outturn

·       Appendix 7 – HRA Capital Programme Outturn

·       Appendix 8 – Reserves Position as at 31 March 2025

·       Appendix 9 - Corporate Plan Performance Measures Quarter 4

·       Appendix 10 - Corporate Plan Projects Quarter 4

·       Appendix 11 – Confidential Annex

The report explained that the provisional General Fund revenue outturn position for 2024/25 was an adverse net variance of £9.305m, which was an improvement of £1.313m from the position reported at Quarter 3. The outturn included a request for additional funding support of £6.393m to Brighter Futures for Children (BFfC) over and above the 2024/25 contract sum. The report also noted that 73% of savings had been delivered in 2024/25, with £3.116m of savings to be carried forward into 2025/26.

The report further explained that the provisional General Fund Capital Programme outturn was a positive net variance of £12.884m against the revised budget of £69.637m, before the reprogramming of £13.137m into future years. The HRA revenue outturn was an adverse net variance of £0.528m, resulting in a drawdown of £4.076m from HRA reserves. The HRA Capital Programme outturn was a positive net variance of £5.485m, with the same amount reprogrammed into future years.

The report also set out the position on reserves, with General Fund revenue reserves totalling £49.035m as at 31 March 2025, and noted that the Dedicated Schools Grant (DSG) deficit had increased to £24.904m.

Performance against the Corporate Plan was also reported, with 42% of KPIs rated green and 67% of projects were on track.

Resolved –

1)    That the provisional General Fund revenue outturn position for 2024/25 of an adverse net variance of £9.305m, an improvement of £1.313m from Quarter 3 (Appendix 1 of the report), be noted;

2)    That the provisional General Fund revenue outturn position includes the outturn position reported by Brighter Futures for Children (BFfC), as summarised in Section 3 of the report, be noted;

3)    That £5.451m (73%) of savings have been delivered in 2024/25, with £3.116m of savings to be carried forward into 2025/26 (Appendix 3 of the report), be noted;

4)    That the provisional General Fund Capital Programme outturn of a positive net variance of £12.884m against the revised budget of £69.637m (Appendix 4 of the report), before the reprogramming of £13.137m into future years, be noted;

5)    That £1.717m of Capital Receipts have been used to fund transformation (the Delivery Fund) in accordance with the Capitalisation Directive (Appendix 5), be noted;

6)    That the provisional Housing Revenue Account (HRA) outturn position of an adverse net variance of £0.528m, resulting in a drawdown of £4.076m from HRA reserves (Appendix 6), be noted;

7)    That the provisional HRA Capital Programme outturn of a positive net variance of £5.485m, against the proposed revised budget of £33.721m (Appendix 7) before the net reprogramming of £5.485m to future years, be noted;

8)    That the Reserves position as at 31 March 2025, as set out in Section 14 of the report and Appendix 8, be noted;

9)    That the deficit balance on the Dedicated Schools Grant of £24.904m, an increase of £15.499m, be noted;

10)That performance against the Corporate Plan success measures, as set out in Section 16 of the report and Appendices 9 and 10, be noted;

11)That the General Fund Revenue outturn balance of £9.305m be funded from the Demographic & Cost Led Pressures Reserve and the Financial Resilience Reserve, as set out in Appendix 8, be approved;

12)That the Council provides £6.393m of additional funding support to Brighter Futures for Children (BFfC) over and above the 2024/25 contract sum in respect of their 2024/25 outturn position, be approved;

13)That the amendments to the General Fund Capital Programme, as set out in Section 11 of the report and Appendix 4, resulting in a revised Capital Programme budget of £69.637m for 2024/25 (before the reprogramming of £13.137m into future years), be approved;

14)That the amendments to the HRA Capital Programme, as set out in Section 13 of the report and Appendix 7, resulting in a revised HRA Capital Programme budget of £33.721m for 2024/25 (before the net reprogramming of £5.485m into future years), be approved;

15)That the write-off of debts be approved, as set out in Section 8 and Appendix 11 of the report, relating to:

a)    Non-Domestic Rates – £790,992.78;

b)    Housing Benefit Overpayments – £21,619.45;

c)     Sundry Debt – £125,036.77.