Issue - meetings

RESOLVED: Cabinet Agreed:

1. The draft revenue outturn position for 2024/2025 (section 2)

2. The new transfers to earmarked reserves as stated in para 2.3.

3. The amendments to the Earmarked Reserves Policy (Section 4)

REASON FOR DECISION: To consider and approve the draft revenue outturn position for 2024/2025 for the Council

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The Assistant Director for Finance and Deputy Section 151 Officer presented the report.

The Chair, Councillor Beales invited questions and comments from Cabinet Members.

Councillor Lintern referred to page 56 and questioned why the Local Plan was not budgeted for as this was a statutory requirement.

The Assistant Director for Finance and Deputy Section 151 Officer explained due to the change in government and the revised deadline of two years not five, funding needed to be found for the Local Plan.

Councillor Moriarty commented the importance of the Local Plan reflecting this administration. He added Officers are considering ways of funding from Central Government including grants.

The Assistant Director for Finance and Deputy Section 151 Officer explained Planning Officers had made an estimation on the cost of the Local Plan which had been reduced however the earmarked reserves was a significant contribution to the financial need.

RESOLVED: 1. The draft revenue outturn position for 2024/2025 (section 2)

2. Review and agree the new transfers to earmarked reserves as stated in para 2.3.

3. Review and agree the amendments to the Earmarked Reserves Policy (Section 4)

REASON FOR DECISION: To consider and approve the draft revenue outturn position for 2024/2025 for the Council