Agenda item

Financial Outturn 2023-2024 (Quarter 4)

The Leader’s Portfolio

To consider report FIN/658 of the Head of Corporate Finance, which was referred to the meeting of the Overview and Scrutiny Commission on 23 July 2024.

Decision:

RESOLVED

That the Cabinet:

a) notes the outturn for the financial year 2023/2024 as summarised in this report FIN/658

b) approves the addition of a Senior Project Manager within the Built Environment Team to be funded from existing and future capital projects. (para 9.9 of report FIN/658)

c) approves the virement in the Capital Programme of £67k from Allotments to Goffs Park (para 9.8 of report FIN/658)

d) notes the carry forward requests detailed in Section 6 of report FIN/658

The Full Council be recommended to:

a) agree to the transfers of reserves and level of balances as outlined in Section 10 of report FIN/658.

b) approve the addition to the Capital Programme of £1.1m funded from the Better Care Fund. (para 9.3 of report FIN/658).

c) approve the addition to the Capital Programme of £60k for Three Bridges Station funded from S106 monies received. (para 9.6 of report FIN/658).

Reasons for the Recommendations

To report to Councillors on the outturn, subject to audit, for the year compared to the approved budget.

Minutes:

The Leader of the Council presented report FIN/658 of the Head of Corporate Finance on the Quarter 4 budget monitoring, which set out a summary of the Council’s outturn for the year for both revenue and capital spending for the financial year 2023/24. It identified the main variations from the approved spending levels and any potential impact on future budgets.

Councillor Ayling presented the Overview and Scrutiny Commission’s comments on the report to the Cabinet following consideration of the matter at its meeting on 23 July 2024, which included:

· The rising cost of repairs was explained. There was now an awareness of damp and mould. Repairs were urgent but it was important to do maintenance to avoid properties falling into disrepair.

· Information was provided on the funding available from the Better Care Fund.

· Clarity was sought and obtained with regards to the addition of the Senior Project Manager in the Built Environment Team, together with the demand for the delivery of capital projects.

· It was noted that the homelessness and temporary accommodation pressures continued to rise and there were many contributing factors to this.

Councillor Crow was invited to speak on the item. Matters raised included he commented that 33% of the overspend did not relate to the known temporary accommodation issues, rather that it related to other services including the New Town Hall and underestimating the pay award.

In response, the Leader commented that in respect of the New Town Hall overspend, it relates to our business model of sharing costs such as heating, and other utilities. However now the occupancy was increasing that would be less of an issue in the future. In respect of the national pay award, it was and would be going forward, difficult for our officers to estimate what level the award would be as it agreed at. The level was set nationally and outside of our control.

Councillors S Mullins, Irvine and C Mullins spoke as part of the discussion on the report.