2024/25 & 2025/26 Financial Statements
Perth and Kinross Council · 5 May 2025
Back to Auchterarder Common Good Fund Committee — 5 May 2025 and its agenda
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Our vision is a Perth and Kinross where everyone can live life well, free from poverty and inequality ___________________________________________________________________ Committee or Board: Auchterarder Common Good Fund Committee Date of Meeting: 5 May 2025 Report Title: 2024/25 & 2025/26 Financial Statements Report Number: 25/103 Report Author: Fiona Lambie, Accountant Organisational Lead: Scott Walker, Chief Finance Officer ___________________________________________________________________ 1. Purpose 1.1 The purpose of this report is to provide details of the income and expenditure to 31 March 2025, seek approval of the budget for 2025/26 and provide the projected outturn for 2025/26. 1.2 Sections 1. Purpose 2. Recommendations 3. Background/Context 4. Main Issues 5. Conclusion 6. Impact Value Assessment 7. Appendices 2. Recommendations It is recommended that the Committee: 2.1 Note the unaudited income and expenditure to 31 March 2025, and the projected outturn for 2024/25, as set out in Appendix 1. 2.2 Approve the Auchterarder Common Good Fund budget for 2025/26 as set out in Appendix 2 to the report. 2.3 Note the projected outturn for 2025/26, as set out in Appendix 2.
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3. Background/Context 3.1 The Committee approved the 2024/25 Budget and received a financial monitoring update for the Fund at the meeting on 29 April 2024 (Report 24/140 refers). A further financial monitoring update for the Fund was provided at the meeting on 25 November 2024 (Report 24/329) refers. This report provides an update on the unaudited outturn for 2024/25. 3.2 The proposed budget for the Fund for 2025/26 is included in Appendix 2 to this report. The budget has been prepared based on activity undertaken in 2024/25 and prior years, providing a surplus to mitigate the potential impact of unknown costs or a reduction in income, and to ensure the Fund remains sustainable over the longer term. 4. Main Issues Financial Statement 2024/25 4.1 As detailed in Appendix 1, the unaudited surplus for the Fund for Financial Year 2024/25 is £25,054 and the Fund balance as at 31 March 2025 is £327,035. There was an underspend of £5,068 on Repairs and Maintenance as, although £1,705 expenditure was incurred on path drainage and kerbs, this was negated by an accrual of £1,773 for 2023/24 which did not materialise. Financial Assistance was underspent by £12,440 and Christmas Lighting was underspent by £729. Projected income from Interest on investments was £516 greater than budget. In total there is a movement in surplus of £18,239 from that previously reported in November 2024 resulting in a total projected surplus of £25,054. This provides a projected Fund Balance of £327,035 for carry forward into 2025/26. There may be further adjustments during the closure of the accounts for 2024/25, and any changes will be reported to a future meeting of the Committee. Budget 2025/26 4.2 Appendix 2 provides the proposed budget for 2025/26. The Financial Assistance budget has been maintained at £20,000. There are no changes from 2024/25, and the budget delivers a £6,300 surplus to provide a contingency for unforeseen expenditure during the year. Financial Statement 2025/26 4.3 On the basis of Appendix 2 and subject to the total amounts of Financial Assistance under consideration being approved, it is anticipated that a surplus of £5,830 will be generated in 2025/26 and the Fund’s Revenue Account Balance is estimated to be £332,865 at 31 March 2026. 5 Conclusion 5.1 As detailed in Appendix 1, the projected surplus for the Fund for 2024/25 is £25,054 and the anticipated Fund balance at 31 March 2025 is £327,035.
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5.2 As detailed in Appendix 2, the proposed budget for 2025/26 is the same as 2024/25, with a the projected surplus of £5,830 and the estimated Fund balance at 31 March 2026 is £332,865. 6. Impact Value Assessment Impact Value Assessment 7. Appendices 7.1 Appendix 1 – Auchterarder Common Good Fund – Financial Statement for the period to 31 March 2025 for 2024/25. 7.2 Appendix 2 – Auchterarder Common Good Fund - Financial Statement for the 2025/26.