Draft accounts for 2024/25 published today
The council’s draft accounts for 2024/25 have been published today one month ahead of the 30 June statutory deadline.
The timely completion of the accounts provides valuable assurance over the council’s financial reporting arrangements. Only a small proportion of councils will meet this deadline and this is a huge achievement by the teams involved in their production.
The accounts report our performance for the financial year ended 31 March 2025 against approved budget. This report presents an underspend of £0.5 million after the use of reserves and action taken during the year to make efficiencies and reduce spending.
The draft accounts for 2024/25 can be viewed on the council's website. A summary set of statements is also available on the council website.
The accounts will be presented to the council’s audit and governance committee on 10 June 2025 and will be audited by Grant Thornton between July and September this year. This is to confirm they are ‘true and fair’ and free from errors.
Councillor Pete Stoddart, Cabinet Member Finance and Corporate Services, said:
“Despite continuing financial challenges and increased demand for our services, we ended the 2024/25 financial year with a small underspend of £0.5 million.
“We’ve accomplished this through continued rigorous financial management in all areas across the council, the prudent use of reserves, making efficiencies and successfully achieving £10.9 million of planned recurrent savings.
"Looking ahead to 2025/26, we’ve set a balanced budget and a financial strategy which aims to preserve and protect the council’s financial resilience and sustainability while at the same time investing in and improving our services to support the priorities outlined in the Council Plan.”
Residents who are registered to vote in Herefordshire can inspect the council’s accounts and related documents and ask questions about them. Further details are available on the council’s website.