Issue - meetings

Recommendation:

·       That the revenue budget virements as set out in appendices 1 to 3 be approved and incorporated into the three-year medium-term financial plan.

·       That the revenue budget supplementary estimates as set out in appendices 1 to 3 be approved and incorporated into the three-year medium-term financial plan.

·       That the revenue variances to be managed as set out in appendices 1 to 3 be noted.

·       That the capital variances as set out in appendices 1 to 3 be approved and incorporated into the three-year medium-term financial plan.

The motion was proposed by Councillor Louise Price (Lead Member for Resources, Regeneration and Economic Development), seconded by Councillor Stephen Giles-Medhurst.

Some Members queried unspent social housing decarbonization grant, it was clarified that eligibility restrictions had limited expenditure. Clarification was sought on reserve movements, and a response would be provided in writing.

On being put to the Council the motion was declared CARRIED by the Chair of the Council, the voting being 22 For, 0 Against and 11 Abstentions.

RESOLVED:

·         That the revenue budget virements as set out in appendices 1 to 3 be approved and incorporated into the three-year medium-term financial plan.

·         That the revenue budget supplementary estimates as set out in appendices 1 to 3 be approved and incorporated into the three-year medium term financial plan.

·         That the revenue variances to be managed as set out in appendices 1 to 3 be noted.

·         That the capital variances as set out in appendices 1 to 2 be approved and incorporated into the three-year medium-term financial plan.

Post Meeting Note: A detailed report on the social housing decarbonization grant was circulated to all members.

To Council:

That the revenue budget virements as set out in appendices 1 to 3 be approved and incorporated into the three-year medium-term financial plan.

That the revenue budget supplementary estimates as set out in appendices 1 to 3 be approved and incorporated into the three-year medium-term financial plan.

That the revenue variances to be managed as set out in appendices 1 to 3 be noted.

That the capital variances as set out in appendices 1 to 3 be approved and incorporated into the three-year medium-term financial plan.

The Interim Head of Finance presented the report setting out the Council’s financial position. The forecast revenue variance was £3,000 favourable against a net budget of £15.105m. Variances included increased planning subscription costs, adjustments to shared services with Watford BC and increased rental income from tenants at Three Rivers House. Capital budget remained at £14.829 for 2025/26, including rephased sums. Collection rates for council tax and business rates were ahead of target.

Members discussed sustainability allocations, the use of carry forwards, and risks associated with recycling costs and volatile energy markets. Clarification was provided on Penalty Charge Notices (PCN) income trends with recent data showing increased enforcement activity. Members requested that recommendations in future include full figures within the minutes for ease of reference

The motion was put to the vote with 9 votes in favour and 4 abstentions the motion was carried.