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Details
Status:
Decision Proposed
Title:
2024/25 Outturn Financial Performance Report
Details:
Report of the Cabinet Member with responsibility for Resources and Value for Money
Implementation Date (not before):
Tue 8 Jul 2025
Implementation Date Notes:
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.
Department:
Financial Services, Corporate Performance & Risk Management
Rating:
General Fund - Capital
Include Item on Forward Plan:
No
Estimated Cost:
Not Applicable
Background Papers:
See report
Is the Decision Maker Aware of the Decision:
Yes
Is the Head of Services Aware of the Decision:
Yes
Is Decision County Wide:
Yes
Would the recommended decision be contrary to the budget and policy framework:
No
Budget Provision:
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.
Documents to be Given to Decision Maker:
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.
Decision Proposed:
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.
Decision Conclusion:
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.