2024/25 & 2025/26 Financial Statements
Perth and Kinross Council · 5 May 2025
Back to Crieff 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: Crieff Common Good Fund Committee Date of Meeting: 5 May 2025 Report Title: 2024/25 & 2025/26 Financial Statements Report Number: 25/105 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 Crieff 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 25 November 2024 (Report 24/333 refers). This report provides an update on the unaudited outturn for 2024/25. 3.2 The proposed budget for the Fund for Financial Year 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, recognising that the maximum award of Financial Assistance is £500 per application. 4. Main Issues Financial Statement 2024/25 4.1 As detailed in Appendix 1, the unaudited surplus for the Fund for 2024/25 is £1,306 and the Fund balance as at 31 March 2025 is £15,926. The £706 increase from the previously reported surplus of £600 is due to an underspend of £541 in financial assistance and an additional £165 from interest earned for the year due to higher interest rates. 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 £1,500. There are no changes from 2024/25, and the budget delivers a £600 surplus to provide a contingency for unforeseen expenditure during the year. Financial Statement 2025/26 4.3 On the basis of Appendix 2, it is anticipated that a surplus of £600 will be generated in 2025/26 and the Fund’s Revenue Account Balance is estimated to be £16,526 as at 31 March 2026. 5 Conclusion 5.1 As detailed in Appendix 1, the projected surplus for the Fund for 2024/25 is £1,306 and the anticipated Fund balance at 31 March 2025 is £15,926. 5.2 As detailed in Appendix 2, the proposed budget for 2025/26 remains the same as 2024/25 with a projected surplus for 2025/26 is £600 and the estimated Fund balance at 31 March 2026 is £16,526. 6. Impact Value Assessment Impact Value Assessment
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7. Appendices 7.1 Appendix 1 – Crieff Common Good Fund – Financial Statement for the period to 31 March 2025 for 2024/25. 7.2 Appendix 2 – Crieff Common Good Fund - Financial Statement for the 2025/26.