Agenda item

To consider a report of the Deputy Chief Executive and Director of Corporate Operations on proposals for the revenue budget and precept for 2024/25, and an update on the financial position for 2023/24.

Cabinet considered a report of the Deputy Chief Executive and Director of Corporate Operations on proposals for the revenue budget and precept for 2024/25, and an update on the financial position for 2023/24. 

Cabinet heard that the Section 25 Report from the Chief Financial Officer concluded that the County Council was still in a strong position for 2024/25 but that unless the deficit going forward was addressed there would be a funding gap for 2025/26. 

The pressures in children’s services had been difficult to predict due to the number of variables.  However, it was expected that forecasting, particularly for school transport need, would improve going forward. 

The adult social care grant had reduced proposed drawdown from reserves by approximately £10m.  Although welcomed, it would not be a significant change.  However, it was key that government had recognised the ongoing pressure and appeared to be giving a commitment to address it.

The recommendations in the report were considered and agreed. A decision record is attached to these minutes.