Issue - meetings

Recommendation

That the Policy and Resources Committee recommend to Council:

i.       That the favourable revenue year end variance after carry forwards of £0.419m be noted.

ii.      That the capital year end position as summarised in paragraph 2.11 and Appendix 3 be noted.

iii.     To approve to carry forward the unspent service budgets from 2023/24 to 2024/25 which total £0.277m to enable completion of projects as detailed at Appendix 2.

iv.    To approve the rephasing of capital projects from 2023/24 to 2024/25 detailed at Appendix 4.

This report sets out the financial position for the year ending 31 March 2024 for the Council’s revenue and capital budgets.  The following recommendations are included in the report:

                 i.          to carry forward to 2024/25 certain unspent revenue budgets and;

                ii.          to rephase those capital budgets that require completion in 2024/25

Recommendation

The Policy and Resources Committee recommend to Council:

       i.          That the favourable revenue year end variance after carry forwards of £0.419m be noted.

      ii.          That the capital year end position as summarised in paragraph 2.11 and Appendix 3 be noted.

     iii.          To approve to carry forward the unspent service budgets from 2023/24 to 2024/25 which total £0.277m to enable completion of projects as detailed at Appendix 2.

    iv.          To approve the rephasing of capital projects from 2023/24 to 2024/25 detailed at Appendix 4.

The Committee considered a report presented by Alison Scott, Director of Finance.

The report set out the financial position of the Council’s revenue and capital budgets for the year ending 31 March 2024.

It was noted that there was an improvement in the overall position due to both interest earned on investments and a rebound in recycling income.

Due to the pre-election period, the Director of Finance would respond to any questions by Members via email, before the Full Council meeting.

Councillor Matthew Bedford, Lead Member for Resources, informed Members that the overall positive variance was primarily due to extra investment income and the other service variances net out to approximately zero.

Members asked for line numbers to be added to each item in future reports for ease of referencing.

Members requested an update on the tree works that had been due to be undertaken by the end of February but had not been carried out due to weather conditions and bird nesting season. The Director of Finance would investigate and report back to Members.

Members also enquired about Major Incident Planning reduced expenditure at year end to bring within budget. The Director of Finance explained that the Council managed budgets but had there been a major incident, the Council would not have come in on budget.

In answer to queries raised regarding Council copier costs, the Director of Finance explained that the Council’s copiers were also scanners, not just copiers, which increased costs.

Councillor Matthew Bedford, Lead Member for Resources, reminded Members that the scrutiny of the budgets as set out in the ‘Outturn by Service’ section in the report, should take place at the relevant committee meetings.

Members enquired about the previous budget for the purchase and installation of CCTV equipment and whether this had taken place. Officers would update Members by email.

Members thanked officers for the wise investments that had resulted in the Council remaining financially buoyant.

Councillor Matthew Bedford proposed to move the Officers recommendations, and this was seconded by Councillor Stephen Giles-Medhurst.

A vote was carried out where 9 Members voted For and 4 Members Abstained.

RESOLVED: that the Policy and Resources Committee recommend to Council:

i.                 That the favourable revenue end variance after carry forwards of £0.419m be noted.

ii.               That the capital year end position as summarized in paragraph 2.11 and Appendix 3 be noted.

iii.              To approve to carry forward the unspent service budgets from 2023/24 to 2024/25 which total £0.277m to enable completion of projects as detailed in Appendix 2.

iv.              To approve the rephasing of capital projects from 2023/24 to 2024/25 detailed in Appendix 4.