Using inner query

select a.cycle_id, a.cycle_duration, a.cycle_name,
a.financial_year, a.active_flag, (
select max (last_update_date) from XXGLO_APPLIED_REIMBURSEMENTS b
where a.cycle_id= b.cycle_id and
a.cycle_duration=b.cycle_duration
--created_by= fnd_profile.value('USER_ID')
and fnd_global.user_id=created_by
) last_update_date,
decode(a.active_flag,'Y','Y1','N1') active_flag1
from XXGLO_FIN_CYCLES a
order by financial_year desc