Decision details

Financial Position Update

Decision Maker: Cabinet

Decision status: Recommendations Approved

Is Key decision?: No

Is subject to call in?: Yes

Purpose:

An update on the Council's financial position for 2024/25

Decision:

To agree the £1.85M adjustments to be made to directorate budgets to reflect sustained favourable variances reported at month 7 of 2024/25 due to transformation measures, to be transferred to centrally held contingency to reduce the reliance on Exceptional Financial Support (EFS), as set out in paragraph 6.

Reasons for the decision:

To ensure that Cabinet fulfils its responsibilities for the overall financial management of the Council’s resources.

Alternative options considered:

Not applicable.

Report author: Madeleine Modha

Publication date: 26/11/2024

Date of decision: 26/11/2024

Decided at meeting: 26/11/2024 - Cabinet

Effective from: 05/12/2024

Accompanying Documents: