Issue - meetings

This report covers this Committee’s financial position over the medium term (2024 – 2028) as at Period 10 (end of January).

The Period 10 comprehensive Budget Management report has already been presented to the Policy & Resources Committee at its meeting on 10 March 2025 which sought approval to a change in the Council’s 2024 - 2028 medium-term financial plan.

Recommendation

That:

i)        Members note and comment on the contents of the report.

The Interim Head of Finance presented the P10 budget report.  It was noted that the comprehensive budget monitoring report had been presented to the Policy & Resources Committee on 10 March and this had sought approval to a change in the Council’s 2024/25 – 2027/28 medium term financial plan.

The Interim Head of Finance highlighted that there was a forecast favourable variance for the revenue budget of £0.129m compared with the forecast reported at P8.  The revenue budgets within each service area which had contributed to the variance were explained in detail and were also set out in the report.

Virements were detailed in Annex B and had predominantly been linked to the receipt of grants and corresponding expenditure within Community Partnerships, expenditure linked to the planned use of earmarked reserves for neighbourhood plans, and the transfer of a repairs and maintenance budget from Garden Waste to Street Cleansing.

The latest capital investment programme for 2024/25 was £5.241m and the forecast year-end position was estimated to be £5.056m, resulting a service variation of c£185,000.  The forecast variances to agreed budgets were set out in Annexes C and D.

The Interim Head of Finance reported that all income streams (set out at Annex E) were currently on target to achieve budget income levels in 2024/25.

The Committee noted that the report had included three vacancies as at 31 January 2025, and of those vacancies employment offers had now been made in relation to two posts.

A Committee Member noted a budget increase related to the increased cost of removing abandoned vehicles and recommended that officers investigate whether these costs could be recharged to the last registered owner through tracing of the registration plate. 

In response to a Member’s question about the £100,000 transport infrastructure item which was being rephased into next year, officers responded that this was due to the fact that no significant capital schemes (for example, the verge hardening programme) had been progressed from that budget in the current year.  Additionally, the development of the Local Cycling and Walking Infrastructure Plan, which was due to come forward for adoption later in the year, meant that no cycling schemes had been progressed.  There had also been capacity issues arising from staff absence.

Committee Members asked questions about the details of the report which were responded to by officers.

RESOLVED:

That:

(i)         Members note and comment on the contents of the report.