Issue - meetings

That Council approves the following:

·       That the revenue year end variance after carry forwards of £0.461m be noted.

·       That the capital year end position as summarised in paragraph 3.12 and Appendix 3 be noted.

·       To approve to carry forward the unspent service budgets from 2025/26 to 2026/27 which total £0.580m to enable completion of projects as detailed at Appendix 2.

·       To approve the rephasing of capital projects from 2025/26 to 2026/27 as detailed at Appendix 4.

Councillor Price moved the recommendations and Councillor Giles-Medhurst seconded. The Deputy Leader introduced the report and drew Members’ attention to the Council’s revenue and capital outturn position. Tribute was paid to the Director of Finance and her team for their work in managing the Council’s finances during a challenging period and for achieving a positive overall outturn position.

During debate, Members welcomed the overall financial performance of the authority but sought further information regarding a number of areas within the budget. Particular reference was made to expenditure associated with waste management services and the desire for a more detailed breakdown of costs in future reports. Whilst Members accepted that some matters would require a written response outside the meeting, there was general support for the recommendations and recognition that the report demonstrated prudent financial management during the year.

On being put to the vote, the motion was declared CARRIED by the Chair, the voting being 24 votes For, 14 Abstentions.

RESOLVED:

That Council approves the following:

·         That the revenue year end variance after carry forwards of £0.461m be noted.

·         That the capital year end position as summarised in paragraph 3.12 and Appendix 3 be noted.

·         To approve to carry forward the unspent service budgets from 2025/26 to 2026/27 which total £0.580m to enable completion of projects as detailed at Appendix 2.

·         To approve the rephasing of capital projects from 2025/26 to 2026/27 as detailed at Appendix 4.

That:

·         The revenue year end variance after carry forwards of £0.461m be noted.

·         That the capital year end position as summarised in paragraph 3.12 and Appendix 3 be noted.

·         To approve to carry forward the unspent service budgets from 2025/26 to 2026/27 which total £0.580m to enable completion of projects as detailed at Appendix 2.

·         To approve the rephasing of capital projects from 2025/26 to 2026/27 as detailed at Appendix 4

The Committee considered the Budget Outturn Report for 2025/26. The Lead Member for Resources, Regeneration and Economic Development outlined the financial position and highlighted that inflationary pressures had been accommodated through budget revisions during the year. Additional investment income had also been achieve due to higher than anticipated interest rates.

Members questioned variances within the budget, including expenditure associated with the Aquadrome play area project, the increase in external audit fees, community safety grant funding, parking enforcement reserves and the assumptions underpinning future income targets. Officers advised that additional Aquadrome expenditure had been matched by corresponding income.

Discussion took place regarding audit fees and the operation of the Public Sector Audit Appointments framework. Officers advised that final fees were determined through the national arrangements and remained uncertain until audit work was completed.

Members requested greater transparency in future reports regarding miscellaneous budget headings and significant grant income movements.

The recommendations were put to the vote and declared CARRIED, the voting being, For 10, Against 0 and Abstentions 4.

RESOLVED:

The Policy and Resources Committee recommend to Council:

·         That the revenue year end variance after carry forwards of £0.461m be noted.

·         That the capital year end position as summarized in paragraph 3.12 and Appendix 3 be noted.

·         To approve to carry forward the unspent service budgets from 2025/26 to 2026/27 which total £0.580m to enable completion of projects as detailed at Appendix 2.

·         To approve the rephasing of capital projects from 2025/26 to 2026/27 as detailed at Appendix 4.