URL: https://wolverhampton.moderngov.co.uk/ieDecisionDetails.aspx?ID=9751

Decision Maker: Cabinet

Outcome: Recommendations Approved

Is Key Decision?: Yes

Is Callable In?: Yes

Purpose: The purpose of this report is to provide Cabinet the Council’s outturn position for 2024-2025 compared with approved budgets and targets and performance update against the Our City: Our Plan priorities.

Content: 1.     That it be noted, the Council has again managed its money well and delivered within budget. Overall, the General Fund revenue position for 2024-2025 is a balanced budget after making contributions to earmarked reserves and general balances.     2.     That it be noted, the Housing Revenue Account (HRA) revenue outturn for the year was overall within budget, after contributing to the HRA reserve.   3.     That it be noted, the capital programme has an outturn position of £71.1 million for the General Fund and £131.3 million for the Housing Revenue Account (HRA). A summary of the outturn is detailed in section 8 of the report. A full detailed report on the Capital Outturn 2024-2025 including Quarter One Capital Monitoring 2025-2026 would be reported to Cabinet on 9 July 2025.   4.     That it be noted, reserves and provisions held by the Council as at 31 March 2025 are included under a separate report on this agenda. The outturn position detailed in this report assumes that the year-end reserve approvals outlined in the Reserves and Provision report are approved.   5.     That it be noted, the Deputy Director of Finance had approved write-off of debts against the expected credit loss provision as detailed in Appendix 5 to the report.   6.     That it be noted, a large amount of the performance data published in the report is internal data which is going through the process of being ratified by national bodies such as the Department for Education, OFSTED and Public Health England. When this process has been completed, further updates would be provided to Councillors giving clear comparisons to regional, statistical and national average performance.   7.     That the write-off of debts against expected credit loss provision as detailed in Appendix 5 to the report be approved.   8.     That the updated Strategic Risk Register as detailed in Appendix 6 to the report be approved.   9.     That the delegation to the Deputy Director of Finance and Deputy Director of City Housing to approve virements in respect of budgets in relation to the Homeless services and Housing Improvement Agency that transferred back to the General Fund from Wolverhampton Homes on 1 April 2025, as detailed in paragraph 3.69 of the report be approved.   10.  That  the delegation to the Section 151 Officer to approve virements in relation to identified savings in 2025-2026, as detailed in paragraph 4.6 of the report be approved. 

Date of Decision: June 11, 2025