Issue - meetings

This report summarises the Council’s provisional financial performance for 2024/25 and details the capital budgets to be carried forward for schemes where costs will be incurred in 2025/26.

Following consideration, the Committee unanimously resolved to:

(1)       Receive the report on provisional financial outturn for 2024/25;

(2)       Approve the carry forward £1.923 million budget for capital schemes to be added to the 2025/26 capital programme.

(3)       Note that the provisional outturn position is subject to external audit. Should any material changes arise from the audit, these will be reported back to members.

The Committee received a report summarising the Council’s provisional financial performance for 2024/25 and providing details of the capital budgets to be carried forward for schemes where costs will be incurred in 2025/26.

The following matters were considered:

a)             Section 106 funds. In response to a question from a member, the Chief Accountant informed the Committee that the majority of the Council’s received Section 106 balances related to affordable housing. Where balances were time-bound the council sought to use them before they expired.

b)             Disabled Facilities Grants (DFG). In response to a question from a member, the Chief Accountant informed the Committee that any unspent DFG balances were rolled forward to the new financial year, but that the council also held a creditor balance of the same amount for use in the event that the grant was required to be paid back to the government. The Committee was informed that there had been a backlog of DFG works created by the Covid pandemic but that the Government had provided an extension to the period for existing funds to be used.

Following consideration, the Committee unanimously resolved to:

(1)       Receive the report on provisional financial outturn for 2024/25;

(2)       Approve the carry forward £1.923 million budget for capital schemes to be added to the 2025/26 capital programme.

(3)       Note that the provisional outturn position is subject to external audit. Should any material changes arise from the audit, these will be reported back to members.