Issue - meetings

(A report by Russell Stone, Director of Finance (S151 Officer))

The Committee received a report from the Director of Finance (S151 Officer), presented by the Head of Finance Delivery (PSPSL).

The report set out the 2025/26 Quarter 3 Financial Position for the period ending 31^st December 2025, providing an overview of income and expenditure across BTAC services and the projected outturn position at the end of the financial year.

The forecast showed a surplus of £22,786, representing a positive movement since Quarter 2 of approximately £38,000, and a projected reserve balance of £312,885 as at 31^st March 2026.

The Head of Finance Delivery (PSPSL) summarised the key variances across service areas as detailed within the report:

• Open Spaces and Play Areas – a projected overspend of £15,412, primarily due to repairs and replacement of play equipment (approximately £9,000), alongside higher employee costs, which were offset within the Events service.

• Allotments - a small favourable variance of £20 due to additional rental income.

• Central Park – a forecast surplus of £1,979, reflecting savings achieved through the cessation of the gate?locking service, partially offset by repairs and maintenance costs arising from resurfacing works.

• Public Conveniences - an overspend of £17,495, resulting from vandalism requiring door replacements, increased electricity consumption and temporary loss of income during closures.

• Events –a forecast surplus of £59,990, largely attributable to staffing savings following an in-year service review and the reallocation of posts, with expenditure subsequently charged to the Borough Council rather than the Boston Town Special Expense.

• Administration –savings of £28,695, primarily arising from the street?cleaning service review.

Deliberation by members occurred and the Committee examined the factors contributing to the financial variances. The following points were considered:

·       Concerns were raised regarding the costs associated with vandalism in public conveniences, with confirmation provided that CCTV was in place and that coverage had recently been enhanced;

·       Discussion on the scale of the underspend within the Events budget, with clarification that underspends were returned to reserves unless specifically approved for alternative use by the Committee;

·       Questions regarding street?cleaning variances, with assurance that service levels had not reduced and that differences reflected updated re-charge arrangements and forecasting assumptions. It was confirmed that a written explanation would be circulated following the meeting;

·       Broader discussion regarding the level of BTAC reserves, with Members highlighting opportunities for future investment and liaison with the Town Board to maximise benefit to local communities; and

·       Clarification that BTAC did not operate a formal contingency fund, with reserves providing the mechanism for responding to unforeseen expenditure where appropriate approvals were in place.

It was confirmed that the minimum reserve level would remain at £70,000 for 2025/6 with £100,000 adopted for future years.

Resolved:

1) That the Committee noted the forecast surplus position of a £22,786 for 2025/26; and

2) That the Committee noted the forecast reserve balance of £312,885 as at 31^st March 2026.