Issue - meetings

Report of the Cabinet Member for Finance and Corporate Services seeking approval of Budget virements.

Report of the Cabinet Member for Finance and Corporate Services seeking approval of Budget Virements.

RESOLVED:

(i)  That the transfer of budget from Community Wellbeing to centrally held contingency for the sustained favourable variance of £3.75M relating to care packages and costs as set out in paragraph 3 be approved;

(ii)  That authority be delegated to the Cabinet to consider and approve the transfer to centrally held contingency of any further sustained favourable variances, regardless of value, identified in subsequent financial position updates for 2024/25;

(iii)  That the virement of £20M income and expenditure within the Schools Budget to recognise increased funding, as set out in paragraph 4 be approved; and

(iv)  That the virement of £24.30M Social Care Grant income budget from Non-Specific Government Grants (Centrally Held Funding) to Children & Learning (£9.53M) and Community Wellbeing (£14.77M) to reflect a change in the grant conditions from an un-ringfenced to a ringfenced grant, as set out in paragraph 5 be approved.