This section allows you to view the general details of a Decision
Details
Status:
Decision Proposed
Business Item
2024/25 Outturn Financial Performance Report
Date of Decision
Tue 8 Jul 2025
Description
Report of the Cabinet Member with responsibility for Resources and Value for Money
Matter for Decision (to consider...)
To note the financial outturn position and use of reserves for 2024/25, and to approve any carry forward requests in excess of £30,000.
Service Area
Financial Services, Corporate Performance & Risk Management
Service Area 2
Not Applicable
Background Papers:
See report
Is Decision District Wide
Yes
Decision Made
That Cabinet:
1. Noted the Council’s draft outturn position for 2024/25 together with reserves and balances as of 31 March 2025.
2. Approved the General Fund revenue budget carry forward requests above £0.030mas set out in paragraph 1.5 of Appendix A, a total of £0.112m.
3. Approved the HRA revenue budget carry forward requests above £0.030m as set out in paragraph 3.3 of Appendix A, a total of £0.563m.
4. To note the areas of focus for budget monitoring in 2025/26 and budget setting for 2026/27.
Reason for Decision
To provide Cabinet with an overview of the unaudited 2024/25 outturn for the Council’s revenue and capital accounts, before the audited accounts are submitted for approval to the Audit and Governance Committee.
To provide Members with financial information on the Council’s reserves and balances to assist in formulating budget policies and the budget setting process for 2026/27.
Alternative Options Considered and Rejected
The year-end outturn deficit could be funded from a different earmarked reserve, but use of the In-Year Savings Reserve is in line with the original budget proposal. The In-Year Saving Reserve is a reserve the Council has maintained for a number of years and has been funded from outturn surpluses. Its purpose is to fund years when a deficit position arises, as is the case for 2024/25. By using this reserve in this way, it maintains other earmarked reserves for the purpose for which they were created. However, this does not prevent reserves being re-purposed as part of the next budget setting round if this is deemed appropriate.
Any Declarations of Interest Declared
None
Any Dispensation Granted
None
Decision Criteria
This Decision does not contain any decision criteria records.
Wards
Aldeburgh and Leiston; Beccles and Worlingham; Bungay and Wainford; Carlford and Fynn Valley; Carlton and Whitton; Carlton Colville; Deben; Eastern Felixstowe; Framlingham; Gunton and St Margarets; Halesworth and Blything; Harbour and Normanston; Kelsale and Yoxford; Kesgrave; Kessingland; Kirkley and Pakefield; Lothingland; Martlesham and Purdis Farm; Melton; Orwell and Villages; Oulton Broad; Rendlesham and Orford; Rushmere St Andrew; Saxmundham; Southwold; Western Felixstowe; Wickham Market; Woodbridge; Wrentham, Wangford and Westleton
Topics
This Decision does not contain any Topic records
Overview and Scrutiny
This Decision does not contain any Overview and Scrutiny records.
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Decision History
| 25/06/2025 11:33:52 | Alli Stone | Business Item Created | |
| 25/06/2025 11:33:52 | Alli Stone | Committee Added | Cabinet |
| 25/06/2025 11:33:52 | Alli Stone | Meeting Added | 08/07/2025 6:00PM |
| 25/06/2025 11:40:39 | Alli Stone | Ward Added | Aldeburgh and Leiston |
| 25/06/2025 11:40:39 | Alli Stone | Ward Added | Beccles and Worlingham |
| 25/06/2025 11:40:39 | Alli Stone | Ward Added | Bungay and Wainford |
| 25/06/2025 11:40:39 | Alli Stone | Ward Added | Carlford and Fynn Valley |
| 25/06/2025 11:40:39 | Alli Stone | Ward Added | Carlton and Whitton |
| 25/06/2025 11:40:39 | Alli Stone | Ward Added | Carlton Colville |
| 25/06/2025 11:40:39 | Alli Stone | Ward Added | Deben |
Approval/Comments
No history found.