1.      that Cabinet notes the forecasted revenue outturn position and amendments made to the published 2024/25 Capital Investment Plan; and recommends to Council:

2.      that the revisions to the Capital Investment Plan, as set out in Appendix 1 to the submitted report be approved.

To ensure the Council operates in a prudent manner and works to maintain a balanced budget.

There were no alternative options considered.

The Cabinet’s recommendations will be considered at the Council meeting on 27 February 2025.

The Budget Monitoring 2024/25 report set out a high-level budget summary of the Council’s revenue and capital position for the financial year 2024/25, reviewing budgets and considering year-end forecasts.  These forecasts were based upon the levels of spend and financial information at the end of quarter three (up to 1 December 2024).

The Overview and Scrutiny Board considered the Budget Monitoring 2024/25 report on 12 February 2025 and supported the proposals and recommendation to Cabinet.  At the Cabinet meeting, Councillor Tyerman proposed and Councillor Chris Lewis seconded a motion that was agreed unanimously, as set out above.

None