Decision details

RESOLVED:

That Cabinet:

1)    Noted the provisional outturn of the General Fund, HRA, and Capital budgets for 2024/25;

2)    Noted the year-end rephasing, as included in the provisional outturn figures;

3)    Approved an additional £350,000 is added to the Devolution and Local Government Reorganisation reserve; and

4)    Recommends that Council approve adding £500,000 to the Capital Programme to facilitate improvement across the Council’s depot estate.

KEY DECISION:

Report to Cabinet and Council

PORTFOLIO:

Finance and Corporate

ALTERNATIVE OPTIONS CONSIDERED/REJECTED:

As set out in the report.

DECLARATIONS OF INTEREST:

None

DISCUSSION:

The Portfolio Holder for Finance and Corporate introduced the item and highlighted that there had been an exceptionally good outturn when compared to the national picture. Interest earnings had exceeded the budget and there had been a small amount of rephasing. The Capital Programme continued to be delivered at an improvement to previous years. The Council stood in a good position financially going into LGR, although it was acknowledged that it would be a challenging time as there would be future requirements to deliver more services across additional areas.

The Portfolio Holder for Housing and Homelessness noted that the Council would be transferring funds into the Acquisition and Development Reserve following a surplus in the Housing Revenue Account. This demonstrated the Council’s skill and performance within the Housing department.

The Assistant Director of Finance provided further points of information on the report. He explained that the report set out the Council’s General Fund and the HRA Capital Budget. There had been positive variations within the General Fund totalling £3.366 million, that would enable a top up of £350,000 to the Devolution and Local Government Reorganisation Reserve and £500,000 allocated to the Capital Programme for welfare improvements across the Council’s depot estate.

Reference was made to the Housing Revenue Account and the surplus that would be transferred to the Acquisition and Development reserve.

A question was posed by a non-Cabinet member on savings within the recycling and waste service and specifically whether, during phase 2, there had been any thought on increasing the coverage for complaints and feedback from residents. The Portfolio Holder for Finance and Corporate explained that proposals to move money across to the service had been discussed and that as it was a major change, the Council intended for more resources to be made available to make it as good a service as possible for residents.

A question was raised on the decrease in parking income in the last quarter of 2024. The Portfolio Holder for Finance and Corporate stated that there had been a reduction in the metered income as well as in the parking clock sales for the 4^th quarter. Additionally, the number of Parking Contravention Notices issued had also seen a reduction.