Agenda item

Committee is asked to acknowledge the forecast outturn for 2024/25 as at 31 March 2025 and approve the following recommendations:

1.    The (£3,112k) underspend for the year to 31 March 2025, before the recommendations below, as set out in the Table 2.1 of the report; and

2.    Approve the following transfers to reserves:

a)    £2,300k to Business Rates (National Non Domestic Rates) Equalisation Reserve; and

b)    £812k to the General Fund Reserve

The Committee resolved to acknowledge the forecast outturn for 2024/25 as at 31 March 2025 and approved the following:

1.    The £3,112k underspend for the year to 31 March 2025, before the recommendations below, as set out in table 2.1 of the report.

2.    Approve the following transfers to reserves:

a)    £2,300k to Business Rates (National Non-Domestic Rates) Equalisation Reserve; and

b)    £812k to the General Fund Reserve

The Committee queried the level of reserves for the National Non-Domestic Rates (NNDR) and asked if comparable figures could be provided for the level held by other Local Authorities.

The Committee resolved to acknowledge the forecast outturn for 2024/25 as at 31 March 2025 and approved the following:

1.    The £3,112k underspend for the year to 31 March 2025, before the recommendations below, as set out in table 2.1 of the report.

2.    Approve the following transfers to reserves:

a)    £2,300k to Business Rates (National Non-Domestic Rates) Equalisation Reserve; and

b)    £812k to the General Fund Reserve