Issue - meetings

To Council:

·       That the revenue budget virements as set out in Appendices 1 to 3 and noted in paragraph 4.1.4 be approved and incorporated into the three-year medium-term financial plan.

·       That the revenue budget supplementary estimates of (£0.070m) as set out in appendices 1 to 3 and noted in paragraph 4.1.5 be approved and incorporated into the three-year medium-term financial plan.

·       That the revenue variances to be managed of £0.219m as set out in appendices 1 to 3 and noted in paragraph 4.1.6 be noted.

·       That the capital budgets of (£0.181m) as set out in appendices 1 to 3 and noted in paragraph 4.4.2 be approved and incorporated into the three-year medium-term financial plan.

Members received a report on the Council’s financial position to 31 January 2026.

In presenting the report, it was noted that a number of financial pressures and risks remained, including outstanding debtor balances, particularly in relation to temporary accommodation, and income performance from shops and garages. Officers advised that appropriate provisions were in place to mitigate impacts on the General Fund and that recovery action was ongoing.

Discussion focused on the level of voids within garage stock, the methodology for reporting occupancy, and the treatment of units that were not currently lettable. Members also considered the impact of wider economic factors, including interest rates and inflation, on financial planning. The position in relation to business rates pooling was discussed, with officers advising that the financial impact remained uncertain.

Further queries were raised regarding recruitment to the Monitoring Officer post and the associated increase in expenditure on legal services. Officers confirmed that recruitment options were under review.

The recommendations were proposed by Councillor Nelmes and seconded by Councillor Price.

On being put to the vote, the motion was declared by the Vice-Chair as CARRIED, the voting being For 9, Against 0, Abstentions 4.

RESOLVED:

·         That the revenue budget virements as set out in Appendices 1 to 3 and noted in paragraph 4.1.4 be approved and incorporated into the three-year medium-term financial plan.

·         That the revenue budget supplementary estimates of (£0.070m) as set out in appendices 1 to 3 and noted in paragraph 4.1.5 be approved and incorporated into the three-year medium-term financial plan.

·         That the revenue variances to be managed of £0.219m as set out in appendices 1 to 3 and noted in paragraph 4.1.6 be noted.

·         That the capital budgets of (£0.181m) as set out in appendices 1 to 3 and noted in paragraph 4.4.2 be approved and incorporated into the three-year medium-term financial plan.