Issue - meetings

To consider the report of the Cabinet Member for Performance and Resources seeking Members to note year-end forecasts, the financial pressures on the Council during the Quarter ended 30^th June 2023 and report on the performance of the Council against certain key financial performance indicators.

RESOLVED that:

              (1)               it is noted that the forecast year end position is currently for a decrease to the Council’s General Fund balance of £1,504k against a budgeted decrease of £104k

              (2)               the details of specific budgetary issues identified by officers and the actions being taken to address those issues is noted

              (3)               the current level of Capital expenditure as shown in Appendix 2 of the report is noted.

Cabinet considered the report of the Cabinet Member for Performance and Resources that sought Members to note year-end forecasts, the financial pressures on the Council during the Quarter ended 30^th June 2023 and report on the performance of the Council against certain key financial performance indicators.

The Cabinet Member for Performance and Resources highlighted the key features of the report including the decrease to the General Fund Balance (2.1(1), 4.2) and principal pressures (4.3).  She emphasised that both officers and Cabinet Members were working hard to reduce those pressures.  The Cabinet Member for Performance and Resources noted the favourable forecast within her own portfolio (5.4).  She further noted the £3m income forecast to be generated by the Council’s property portfolio (5.8) whilst cautioning that pressures within commercial sector be closely monitored.

The Cabinet Member for Culture and Leisure apprised Members that he expected the considerable cost burden from the Aspire Sports and Cultural Trust (5.12) to be short-term.  The Cabinet Member for Planning and Housing Strategy expressed gratitude to the Housing Teams who continued to demonstrate great adaptability and bring forward solutions to issues largely outside of the authority’s control.  The Cabinet Member for Communities and Neighbourhoods commented that close partnership working at all levels and the successful pursuit of external grants had contributed to the £59k favourable to budget position of his own portfolio (5.1-3).  He advised that this approach would continue to build so as to benefit residents and help alleviate the challenges they face.  The Cabinet Member for Environment pointed to the positive position of the environment portfolio (5.16) and the work being undertaken by managers to reduce costs which he anticipated would bring future improvements.

RESOLVED that:

              (1)               it is noted that the forecast year end position is currently for a decrease to the Council’s General Fund balance of £1,504k against a budgeted decrease of £104k

              (2)               the details of specific budgetary issues identified by officers and the actions being taken to address those issues is noted

              (3)               the current level of Capital expenditure as shown in Appendix 2 of the report is noted.