Issue - meetings

1.    To note the General Fund (GF) underspend of £0.420m, and an underspend of £0.476m on the Housing Revenue Account (HRA) for 2024/25.

2.    To note the transfer of the net underspend balances for both the GF and HRA to their respective general balances (as set out in paragraph 3 and 6 below of this report).

3.    To note the increase of the Dedicated Schools Grant High Needs Block deficit and the remaining cumulative deficit of £2.529m.

Councillor Rowan Ree (Cabinet Member for Finance and Reform) introduced the report which set out the revenue outturn position for the Council across the General Fund and Housing Revenue Account for the 2024/25 financial year. He noted that the Council had delivered a surplus of £420k for the General Fund and £477k for the Housing Revenue Account because of its ruthlessly financially efficient approach.

Councillor Adronie Alford said she was glad to see progress on the Housing Revenue Account.

RESOLVED

1. That Cabinet noted the General Fund underspend of £0.420m, and an underspend of £0.476m on the Housing Revenue Account for 2024/25.

2. That Cabinet noted the transfer of the net underspend balances for both the General Fund and Housing Revenue Account to their respective general balances (as set out in paragraph 3 and 6 below of the report).

3. That Cabinet noted the increase of the Dedicated Schools Grant High Needs Block deficit and the remaining cumulative deficit of £2.529m.