Issue - meetings

That:

·       The revenue budget virements as set out in Appendices 1 to 3 and noted in paragraph 2.1.4 be approved and incorporated into the three-year medium-term financial plan.

·       The revenue budget supplementary estimates of £0.067m as set out in appendices 1 to 3 and noted in paragraph 2.1.5 be approved and incorporated into the three-year medium-term financial plan.

·       The revenue variances to be managed of £0.001m as set out in appendices 1 to 3 and noted in paragraph 2.1.6 be noted.

·       That the capital budgets of £11.429m as set out in appendices 1 to 3 and noted in paragraph 2.4.2 be approved and incorporated into the three-year medium-term financial plan.

That:

·         The revenue budget virements as set out in Appendices 1 to 3 and noted in paragraph 2.1.4 be approved and incorporated into the three-year medium-term financial plan.

·         The revenue budget supplementary estimates of £0.067m as set out in appendices 1 to 3 and noted in paragraph 2.1.5 be approved and incorporated into the three-year medium-term financial plan.

·         The revenue variances to be managed of £0.001m as set out in appendices 1 to 3 and noted in paragraph 2.1.6 be noted.

·         The capital budgets of £11.429m as set out in appendices 1 to 3 and noted in paragraph 2.4.2 be approved and incorporated into the three-year medium-term financial plan.

The Director of Finance introduced the report.

Members expressed their gratitude to officers on the work they have done. Key topics Members raised include approval and noting of supplementary estimates and capital budgets, urgent maintenance works on the Aquadrome footpath, and discussion on the real living wage impact on contract costs. The officer emphasised that the Council is managing inflation and wage increases through contingency budgeting. Recycling costs and their variability due to market fluctuations were addressed, along with the Council’s approach to tracking and forecasting these costs. Investments yields remain strong but there is some optimism due to potential market and regulatory changes, including the end of upward-only rent reviews affecting commercial properties. The Council is proactively managing leases to secure long-term certainty and maximise property value. Confidentiality needs to be maintained around ongoing contract negotiations with outcomes to be reflected in future budget monitoring.

Councillor Stephen Giles-Medhurst moved the recommendation and set out in the report.

On being put to the Committee, the motion was declared CARRIED by the Chair, the voting being For 7, Against 0, Abstentions 4.

RESOLVED:

That:

• The revenue budget virements as set out in Appendices 1 to 3 and noted in paragraph 2.1.4 be approved and incorporated into the three-year medium-term financial plan.

• The revenue budget supplementary estimates of £0.067m as set out in appendices 1 to 3 and noted in paragraph 2.1.5 be approved and incorporated into the three-year medium-term financial plan.

• The revenue variances to be managed of £0.001m as set out in appendices 1 to 3 and noted in paragraph 2.1.6 be noted.

• The capital budgets of £11.429m as set out in appendices 1 to 3 and noted in paragraph 2.4.2 be approved and incorporated into the three-year medium-term financial plan.