Decision details

The Director of Resources and Deputy Chief Executive submitted a report outlining the draft revenue budget for 2024/25, for approval by committee and then consideration at Special Policy and Finance committee.

Members were reminded that the budget forecast was presented to this Committee in September 2023, when it predicted that there would be the following budget gaps: £877k in 2024/25, £2.261m in 2025/26, and £2.740m in 2026/27, after allowing for use of general fund balances.

The report set out:

·      The changes since the September forecast.

·      The provisional grant settlement.

·      The budget process and how the estimates were prepared.

·      The draft revenue budget for 2024/25 and the main variations.

The difference between the Proposed Original Estimate 2024/25 and Original Estimate 2023/24 was a reduction in net expenditure of £67,530 but an increase in net expenditure of £112,110 after allowing for transfers to and from earmarked reserves.

RESOLVED THAT COMMITTEE:

Approve the revenue original estimate for 2024/25 and agree to submit this to a Special Policy and Finance Committee.