Report Summary
This report provides members of the Resources Committee with an overview of the financial position of the SPA and Police Scotland for period 1 of the financial year 2024/25.
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Meeting
The publication discussed was referenced in the meeting below
Resources Committee -19 June 2024
Date : 19 June 2024
Location : online
Further Detail on report topic
The Head of Finance provides the routine finance report which outlines the year to date and forecast position for the revenue, capital, and reform budgets.
Appendix A provides the detailed period 1 (P1) finance report.
Revenue
The year-to-date position against budget shows an underspend of £1.2m made up of a mixture of timing and real variances.
Potential risks continued to be reviewed with regards to opportunities and threats, some of which may crystallise in the Q1 forecast.
Capital
The year-to-date capital spend at P1 is under budget by £1.6m; mainly due to estates slippage for sub-contractors not ready to commence (£0.4m) and delays in house asset purchased and Vigilant work starting (£0.6m); and underspend in Weaponry (£0.6m) due to tasers expected to be delivered in April delayed until May.
Committed and uncommitted spend will continue to be monitored throughout the year and tracking of these is highlighted in Appendix A.
The capital budget requires £6.5m of slippage to be managed down over the financial year.
Reform
The year-to-date reform spend at P1 is in line with budget.
Committed and uncommitted spend will continue to be monitored throughout the year and tracking of these is highlighted in Appendix A.
The reform budget requires £5.5m of slippage to be managed down over the financial year.
