Issue - meetings

This report sets out the assessment by the designated Section 151 Officer of the Council’s Going Concern status. This is in accordance with all the Council’s priorities.

The Committee noted the Going Concern Report.

The concept of a ‘going concern’ assumes that a local authority, its functions and services will continue in operational existence for the foreseeable future.

The Council’s financial outturn position 2024/25 showed a £1.369m underspend against revised budget which culminated with a £521k withdrawal from General Fund balances. The General Fund revenue reserves amounted to £5.557m as at 31 March 2025. In addition, the Council held earmarked reserves of £3.048m to meet specific identified pressures, but which ultimately may be diverted to support general expenditure by the Section 151 Officer should the need arise.