URL: https://stroud.moderngov.co.uk/ieDecisionDetails.aspx?ID=294

Decision Maker: Strategy and Resources Committee

Outcome:

Is Key Decision?: No

Is Callable In?: No

Purpose: To present to the Strategy and Resources Committee the final outturn position against the General Fund and Housing Revenue Account revenue and capital budgets for 2024/25

Content: The Accountantacy Manager introduced the Outturn Report for the financial year 2024-2025 for both the General Fund (GF) and Housing Revenue Account (HRA) which were both in a positive position. The GF had an underspend of £0.355million which was an improved position from Quarter 3. There was also a gain of £604k from the Business Rates Pool which meant the total underspend for the GF was £0.959million. She outlined the following: There had been improved Planning income and additional investment income. There had been a reduction in Capital Value from one of SDCs long term investments due to an account closure. SDC had set aside funding and it did not impact service delivery. Section 4 detailed reallocation of the GF underspend which included an allocation towards initial Local Government Reorganisation and IT funding costs. The Business Rates gain had been allocated to the Business Rates Pilot Reserve. Two additional areas of spend had been identified which included £64k match funding from Gloucestershire Wildlife Trust for the reintroduction of beavers to the River Frome plus £20k for nature grants. The remaining £127k had been allocated to the GF Equalisation Reserve. The Medium Term Financial Plan (MTFP) presented at Quarter 2 in February assumed an overspend of £493k. £127k of reserves had been allocated which had improved the MTFP position of £620k. Government had issued a Fair Funding consultation which provided more detail on the Fair Funding Review but did not detail any specific allocations, SDC continued to expect a reduction in funding. The Business Rate Reset would reduce the amount of Business Rate income available to SDC going forward. This figure and what the transitional arrangements were unknown however SDC had reserves set aside for the medium term. A briefing paper would be shared with Group Leaders and engagement with Members in the lead up the budget setting.   The HRA had been considered at Housing Committee and had an underspend of £2.784million. It was an improved position from Quarter 3 of £638k as a result of additional investment income and a reduction in support charges from the GF. Section 9 of the report detailed the HRA underspend and included £1.543million being returned to the HRA General Reserves. This was assumed in the HRA MTPF in February to maintain a balanced position over the medium term. The remaining underspend was reallocated to tenant focused areas and £500k toward the Sustainable Energy Programme. Additional funds were set aside to bridge the gap from the Wave 3 to continue the Social Housing Decarbonisation programme. The HRA MTFP remained in the same financial position as reported in February.   Capital Spending was at £13.3million with large areas of spend including the Canal Project, Private Sector Housing Grants (£3.8million) and the purchase of vehicles for the Multi-Service Ubico contract (£3.4million). There was £2.1million slippage which related to the Multi-Service contract vehicles, Active Lifestyles and Lido Maintenance Programme.   Proposed by Councillor Braun, seconded by Councillor Hughes.   Councillor Hughes commented and thanked Officer on how well served and managed SDC’s GF and HRA accounts were. He was also pleased to see funding for the reintroduction of beavers to the River Frome.   Councillor Braun commented that many pieces of work had been delivered over the last year and was pleased to see the progress made and the improved position as a result of increased investment and Planning income.   On being put to the vote, the Motion was carried unanimously.   RESOLVED                         RESOLVED To note: a)    the General Fund Revenue Outturn position for 2024/25, as shown in Table 1 b)    the Housing Revenue Account outturn position for 2024/25, as shown in Table 6 c)    the transfers to and from earmarked reserves for the year, as detailed in Sections 5 and 10 and Appendix G d)    the Capital Programme outturn position for 2024/25, as shown in Appendix H e)    the slippage of the Capital Programme budget and the revised Capital Programme budget for 2025/26, as shown in Appendix J   To APPROVE:   f)      Match funding of £64k to Gloucestershire Wildlife Trust for the reintroduction of beavers to the river Frome.  

Date of Decision: June 26, 2025