Decision details

Resolved:

Cabinet approves:

a)    The following transfers to earmarked reserves;

i.               £0.120m for activity funded by the Supporting Families grant which will fall into future years;

ii.             £0.285m for activity relating to improvements in early help in schools and with families in SEN and targeted services;

iii.            £0.803m to the High Needs Sustainability Activity Reserve in relation to High Needs transformation activity which will fall into future years;

b)    That the balances held in the Inquests and Salisbury Recovery earmarked reserves totalling £0.466m that are no longer required be transferred to the General Fund Reserve.

Cabinet notes:

c)    the current revenue budget is forecast to overspend by £1.749m by the end of the financial year.

d)    the current forecast savings delivery performance for the year.

e)    the forecast overspend on the HRA of £0.696m and the impact on the HRA reserve.

f)     The additional forecast overspend against Dedicated Schools Grant (DSG) budgets of £0.593m and the impact on the cumulative DSG deficit.

g)    The transfer from earmarked reserves;

i.               £0.450m from the transformation reserve as approved by the Transformation Board to support planned FACT activity;

ii.             £0.455m from the transformation reserve as approved by the Transformation Board to support planned HNB transformation activity;

iii.            £0.055m to fund the Short Breaks grant scheme spend in 2024/25 financial year;

iv.            £0.060m to fund external consultant support for the SEN Inspection;

v.             £0.057m from the Not in Employment Education or Training (NEET) reserve for 2024/25 activity;

vi.            £0.036 from the Business Plan Priority Reserve for Enforcement Activity.

Reason for Decision:

To inform effective decision making and ensure sound financial management as part of the Councils overall control environment.

To inform Cabinet on the forecast revenue financial position of the Council for the financial year 2024/25 as at quarter three (31 December 2024), including delivery of approved savings for the year.