Issue - meetings

This report sets out the projected 2024/25 financial position and the performance position for the period covering 1 April 2024 to 30 June 2024, together with an overview of any emerging issues.

Resolved:

                         i.         Noted the finance and performance information;

                        ii.         Noted that work will continue on identifying the savings needed to fully mitigate the forecast overspend;

                      iii.         Approved the £900k savings identified in paragraph 68 needed to deliver the Place service review saving agreed in the 2024/25 budget.

Reason:     To ensure expenditure is kept within the approved budget.

The Director of Finance introduced the report and outlined an estimated overspend of £3.4 million, which was an improvement on the same period for the previous year but highlighted further work to achieve a balanced budget.

The Executive Member for Finance, Performance, Major Projects, Human Rights, Equality and Inclusion thanked all those across the Council who had worked together to put the Council in a better financial position. She noted that the difference from last years overspend showed the work that had been undertaken and showed what the Council could achieve.

Resolved:

                         i.         Noted the finance and performance information;

                        ii.         Noted that work will continue on identifying the savings needed to fully mitigate the forecast overspend;

                      iii.         Approved the £900k savings identified in paragraph 68 needed to deliver the Place service review saving agreed in the 2024/25 budget.

Reason:     To ensure expenditure is kept within the approved budget.