Issue - meetings

(A report by Christine Marshall, Deputy Chief Executive (Corporate Development) & S151)

Councillor Sandeep Ghosh presented the Quarter 2 Finance report that set out a summary of the current financial position for the Council at the end of the second quarter of 2024/25 forecasting to the year end for members consideration. This report provided information on the forecast full year financial performance as at 30^th June 2024 and as detailed within Appendix A for the following areas:

·       The General Fund Revenue Budget,

·       The General Fund Reserves Position,

·       The Capital Programme for 2024/25, and

·       The Treasury Management Performance for the year.

Members discussed the report and commented as follows:

·       The Deputy Chief Executive (Corporate Development) and S151 Officer confirmed that additional costs, such as external audit fees, were unexpected changes which could not be forecast when setting the budget.

·       It was confirmed that, in relation to a query related to planning charges and cremation income services, the budgets would be adjusted accordingly in the upcoming new year.

·       It was verified that officers were actively looking at ways of making the services offered by the Council more commercial in order to provide additional income.

·       Members noted that a variety of methods (internal and external resources) in debt collection were used by the Council.

·       It was highlighted that, although there were uncertainties on accuracy estimating variable income such as housing planning, crematorium, officers were always encouraged to make estimations based on the previous year’s data.

·       It was confirmed that the reduction on crematorium income was due to the type of cremations being purchased.

·       The Deputy Chief Executive (Corporate Development) and S151 Officer provided reassurance to Members that emphasis had been given to budget holders to undertake more planning work to mitigate the number of Proforma Bs and presenting a more accurate forecast.

·       Members congratulated Finance Officers and the Portfolio Holder.

The recommendations were moved by Councillor Sandeep Ghosh and seconded by Councillor John Baxter.

RESOLVED:

That the forecast revenue position of a £202k underspend for 2024/25, as detailed in Table 1, and the need for continued focus on the savings and efficiency programme be noted.

[The Head of Finance (Client) PSPSL left the meeting at 6.45pm following consideration of the above item.]