Councillor Thorpe, Cabinet Member for Finance and Transformation reported the 2024/25 forecast revenue outturn position as at 30 June 2024, and the 2024/25 forecast capital outturn position as at 30 June 2024.
With regards to a question regarding the ISG going into administration and if any due diligence took place before the awarding of the contract. Members were advised that a response will be provided following the meeting.
In response to a member question regarding commissioning contracts members were informed that some commissioning contracts can be done in a commercial and competitive way, however others are specialist. One challenge is per placement costs and as a Council we try to positively influence this, we hold North West comparative data and we are in the ‘medium group’ although we are beholden to the market. It was agreed that this information can be shared with the Cabinet following the meeting.
DECISION:-
· Cabinet noted the 2024/25 forecast revenue outturn position as at 30 June 2024 of a £2.620m overspend (1.17%) against a net budget of £224.480m.
· Cabinet approved the in-year updates and re-phasing of the capital programme, revising the capital delivery programme for 2024/25 to £90.312m which will form the basis for future in-year monitoring and reporting of performance.
Reasons for recommendation(s):
To update members on the Council’s budgetary position and actions taken or being taken to ensure budgetary targets are achieved.
This report is in accordance with the Council’s financial procedure regulations.