Decision
Analysis
outcome: Recommendations were approved by the Cabinet.
summary: The decision involves approving financial measures to address a revenue overspend and rephasing budget allocations for the organization.
topline: The Cabinet has decided to approve financial measures to address a revenue overspend and rephase budget allocations for the organization.
reason_contentious: This issue may be contentious as it involves financial decisions that could impact services and stakeholders.
affected_stakeholders: ["Cabinet members", "Organization staff", "Service users"]
contentiousness_score: 5
political_party_relevance: There are no explicit mentions of political parties in the decision.
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