Decision - Targeted Budget Management (TBM) Provisional Outturn 2024/25

This report recommends that the outturn position for 2024/25 and the Treasury Management performance are noted. The report recommends approval for carry forwards, the allocation of underspends, variations or reprofiling of capital projects, new capital schemes and new reserves.

1) Cabinet notes that the provisional General Fund outturn position is an underspend of £1.091m and that this represents an improvement of £2.416m compared to the projected and planned resource position at Month 9 and taken into account when setting the 2025/26 budget. 2) Cabinet a pproves General Fund carry forward requests totalling £4.283m as detailed in Appendix 5 and assumed within the provisional outturn. 3) Cabinet approves the proposed allocation of additional resources as set out in paragraph 11.3. 4) Cabinet notes the provisional outturn for the separate Housing Revenue Account (HRA), which is a break-even position. 5) Cabinet notes the provisional outturn position for the ring-fenced Dedicated Schools Grant, which is an overspend of £0.680m. 6) Cabinet notes the provisional outturn position on the Capital Programme which is an underspend variance of £4.025m. 7) Cabinet approves the capital budget variations and re-profiling requests set out in Appendix 7. 8) Cabinet approves new capital schemes requested in Appendix 8. 9) Cabinet notes the Treasury Management end of year review 2024/25 as set out in Appendix 10.

The document requests approval to carry forward £4.283 million of underspent budgets into 2025/26. The funding covers non-grant and grant-funded commitments, including safeguarding partnerships, biodiversity net gain, social care education, public health, food waste collection and the Fairness Fund.