Issue - meetings

This report covers this Committees financial position over the medium term (2025 – 2029) as at Period 10 (end of January 2026). The Period 10 comprehensive Budget Management report has already been presented to the Policy & Resources Committee at its meeting on 9 March 2026 which sought approval to a change in the Council’s 2025 – 2029 medium-term financial plan.

Recommendation

That members note and comment on the contents of the report.

The Associate Director for Environment introduced the report.

Members raised concerns about the possibility of Watersmeet benefiting from mandatory charitable business rates relief, highlighting that similar theatres transferred to charitable trusts have saved significant costs. The rising operational expenses, particularly due to increased gas and electricity costs and aging equipment are emphasised. The officer acknowledged the complexity of business rates relief and advised that they will refer to the Director of Finance for a detailed response. They also noted that Watersmeet’s profitability has improved post-COVID. The Chair expressed strong commitment to maintaining Watersmeet for local residents and praised the team’s efforts despite venue challenges.

Members also enquired about the reasons behind the £20,000 overspend and projected £50,000 overspend on the Aquadrome budget. The officer explained that overspends often related to health and safety investments and emergency works, authorised under budget monitoring protocols by senior officers. Some costs may be offset by external funding, and all expenditures are monitored carefully.

Members expressed concern over the Council’s spending, noting that the current expenditure of £104,000 exceeds the approved budget of £64,000, and emphasised the need for Council approval on expenditures and requested a detailed breakdown of the budget to understand the overspending. The officer responded by explaining that the majority of the excess spending is due to utilities costs for the buildings at the Aquadrome, which are unavoidable and outside their control, as these utility bills must be paid.

In response to a request regarding National Lottery funding information, the Head of Leisure and Natural Infrastructure provided detailed amounts, stating that £736,500 has been received for the current stage, with an additional £180,000 received previously. Furthermore, an additional half a million pounds received from the HS2 Additional Mitigation Panel.

Councillor Chris Lloyd moved the recommendation as set out in the report.

The Committee noted and commented on the report.

RESOLVED:

That members note and comment on the contents of the report.