Issue - meetings

REPORT OF THE DIRECTOR - RESOURCES

The purpose of this report is to inform Cabinet of the summary position on revenue income and expenditure forecasts for the financial year 2025/26, as at the end of the first quarter.

RESOLVED: That Cabinet:

(1)         Noted the report.

(2)         Approved the changes to the 2025/26 General Fund budget, as identified in table 3 and paragraph 8.2, a £453k increase in net expenditure.

(3)         Noted the changes to the 2026/27 General Fund budget, as identified in table 3 and paragraph 8.2, a total £689k increase in net expenditure. These would be incorporated in the draft revenue budget for 2026/27.

(4)         Delegated authority to the Director – Resources (in consultation with the Executive Member for Resources) to enter into a Business Rate Pooling arrangement (if available) if it is estimated that it will be in the financial interests of the Council.

(5)         Approve the write-off of a debt for £11,326.64, as detailed in paragraph 8.17.

REASON FOR DECISIONS: Members are able to monitor, make adjustments within the overall budgetary framework and request appropriate action of Services who do not meet the budget targets set as part of the Corporate Business Planning process.

Audio recording – 51 minutes 58 seconds

Councillor Daniel Allen informed the Cabinet that the Chair of the Finance, Audit and Risk Committee, Councillor Sean Nolan, was not in attendance having given apologies, however, had provided a written statement that was relayed to the Cabinet on his behalf, which highlighted the following:

·             Consideration would be given to the risk that Princes Mews Car Park not being reopened would present.

·             Increased Penalty Charge Notices (PCNs) due to the installation of new parking machines had not led to an increase in forecast income.

·             The decreased income from commercial waste collections was noted. 

·             Effects arising from leisure centre and garden waste collection income changes would be considered in Q2 when data was available on these.

·             The increase in expenditure over the original budget position would impact future saving targets according to the Section 144 Officer.

Councillor Ian Albert, as Executive Member for Resources, presented the report entitled ‘First Quarter Revenue Budget Monitoring 2025/26’ and advised that:

·             The report summarised the revenue budget position at the end of Q1.

·             Table 3 showed significant variances affecting this year and next year.

·             The £314,000 increase referenced in the final column of table would impact the budget position for next year.

·             Future funding would be subject to a Government Fair Funding Review which may be positive but was still dependent on consultation and announcements later in the year.

·             Recommendation 2.4 to delegate authority had been included as Business Rate Pooling had been available in previous years but it was noted that it had not yet been offered by the Government this year.

·             Recommendation 2.5 approved debt write-off related to housing benefits.

In response to a question from Councillor Mick Debenham, the Director – Resources advised that they had not yet come to a final agreement with Everyone Active over the loss of revenue during the closures as they only had an initial estimate for this.

As part of the debate, Councillor Ian Albert advised that they would work to refine the initial estimate on the loss of revenue to Everyone Active into a finalised figure.

Councillor Ian Albert proposed and Councillor Amy Allen seconded and, following a vote, it was:

RESOLVED: That Cabinet:

(1)         Noted the report.

(2)         Approved the changes to the 2025/26 General Fund budget, as identified in table 3 and paragraph 8.2, a £453k increase in net expenditure.

(3)         Noted the changes to the 2026/27 General Fund budget, as identified in table 3 and paragraph 8.2, a total £689k increase in net expenditure. These would be incorporated in the draft revenue budget for 2026/27.

(4)         Delegated authority to the Director – Resources (in consultation with the Executive Member for Resources) to enter into a Business Rate Pooling arrangement (if available) if it is estimated that it will be in the financial interests of the Council.

(5)         Approve the write-off of a debt for £11,326.64, as detailed in paragraph 8.17.

REASON FOR DECISIONS: Members are able to monitor, make adjustments within the overall budgetary framework  ...  view the full minutes text for item 34