Issue - meetings

To receive a report on the third financial review for Environment and Communities services for the financial year 2024/25.

The committee received the report which provided the current forecast outturn for the financial year 2024/25 based on income, expenditure and known commitments at the end of October 2024. The report also identified actions that were being taken to address adverse variances to urgently address financial sustainability.

It was queried why the table providing commentary on the progress against budget change items contained some items which were not colour coded. Officers would clarify this following the meeting and confirm in writing.

RESOLVED:

That the Environment and Communities Committee:

1. Review the factors leading to a forecast adverse Net Revenue financial pressure of £18.3m against a revised budget of £390.5m (4.7%). To scrutinise the contents of Annex 1, Section 2 and review progress on the delivery of the MTFS approved budget policy change items, the RAG ratings and latest forecasts, and to understand the actions to be taken to address any adverse variances from the approved budget.

2. Review the in-year forecast capital spending of £144.7m against an approved MTFS budget of £215.8m, due to slippage that has been re-profiled into future years.

3. Note the available reserves position as per Annex 1, Section 5.

4. Note the Capital Virements above £500,000 up to and including £5,000,000 as per Annex 1, Section 4, Table 4 will be approved in accordance with the Council’s Constitution.