Issue - meetings

To receive the report on the second financial review of 2023-24.

The Committee received the report which provided the second review of the Cheshire East Council forecast outturn for the financial year 2023/24. Committee Members were asked to consider the serious financial challenges being experienced and recognise the core activities being undertaken to minimise the impact on services.

Members noted the difficult financial pressures facing the Council and that the Highways and Infrastructure Service had a £1.2m pressure against a net budget of £11.1m. It was reported that £1.6m of this pressure was attributed to a reduction in income generation from parking services. It was highlighted to the Committee that should the £1.2m pressure not be fully mitigated by the end of the financial year, this would roll-over into 2024-25.

The Committee thanked Tom Moody and his team for all their efforts in seeking to mitigate the growing financial pressures facing the service. Cllr Crane also encouraged all Committee Members to join the cross-group campaign for additional funding from Central Government to enable the Council to provide key services to residents.

RESOLVED:

That the Highways and Transport Committee

1. Consider the report of the Finance Sub Committee: Finance Sub-Committee, 2nd November, 2023.
2. Consider the factors leading to a forecast adverse Net Revenue financial pressure of £1.2m against a revised budget of £11.2m (10.7%).
3. Consider the forecast and further mitigations needing to be identified, aimed at bringing spending back in line with budget.
4. Consider the in-year forecast Capital Spending of £70.3m against an approved MTFS budget of £63.9m.
5. Scrutinise the contents of Annex 1 and Appendix 6 and note that any financial mitigation decisions requiring approval will be made in line with relevant delegations.