URL: https://democracy.warwickshire.gov.uk/ieDecisionDetails.aspx?ID=1029

Decision Maker: Cabinet

Outcome: Recommendations Approved

Is Key Decision?: No

Is Callable In?: No

Purpose: Financial outturn report for 2024-25

Content: Resolved   That Cabinet   1)    note the net spend in 2024-25 and the consequent residual net revenue overspend of £1.983m (0.49% of Approved Budget) for the organisation at the end of the year;   2)    note the explanations and mitigating actions for variations to budgets, and the implications for the Medium-Term Financial Strategy, as set out in Appendix A;   3)    approve the use of £2.234m from Earmarked Reserves to fund the 2024-25 revenue position, as outlined in Section 5 and Appendix E;   4)    note the delivery of £9.908m (61.25%) savings in 2024-25, a shortfall of £6.269m against the target of £16.177m, as set out in Section 4;   5)    approve the re-phasing of a total of £0.246m 2024-25 revenue budget allocations into 2025-26, as outlined in Appendix D;   6)    approve the drawdown of £2.444m from the Revenue Investment Funds to support the delivery of the Council Plan in 2025-26, as outlined in Section 6 and Appendix C;   7)    note the capital spend in 2024-25 of £149.596m; and   8)    approve the reprofiling of £53.007m of Services capital spend from 2024-25 into future years.

Date of Decision: June 12, 2025