Issue - decisions

Service Budgets 2024/25 (Finance Sub-Committee)

28/03/2024 - Service Budgets 2024/25 (Finance Sub-Committee)

The Sub-Committee considered a report on the allocation of the approved budgets to each of the service committees, and the financial reporting cycle for 2024/25.


The Director of Finance and Customer Services advised as follows in response to members’ questions and comments:

§  Where there was a budget overspend or underperformance, officers would provide the relevant commentary and analysis, and highlight areas for decision.

§  A standard format would be adopted for all service committees to ensure a consistent approach to managing budgets.

§  A RAG rating would be provided for each policy change proposal; with red and amber ratings highlighting where decisions were required. The Director would consider the feasibility of incorporating RAG ratings into tables for committee reports.

§  The chairs and/or lead officers of relevant service committees could be asked to attend Finance Sub-Committee meetings to discuss budget activity, mitigation and forecasts. This would be necessary if mitigation was not being contained within the individual committee as this could impact on General Reserves which were the responsibility of the Finance Sub-Committee.

§  A planner view could be provided to assist members in understanding the interdependencies between committees.

§  A report on Council Tax and Business Rates collection would be brought to the Sub-Committee’s meeting in June 2024.


RESOLVED (unanimously)


That the Sub-Committee


1.    approves the allocation of the revenue and capital budgets, budget change items and earmarked reserves to the following committees in accordance with the approved MTFS, as set out in Appendix A to the report:


§  Adults & Health

§  Children & Families

§  Corporate Policy

§  Economy & Growth

§  Environment & Communities

§  Finance Sub-Committee

§  Highways & Transport


2.    approves that a report on the progress on delivery of the approved budget policy change items is included as a standing agenda item for each service committee meeting during the 2024/25 reporting year; and


3.   notes the draft financial reporting timetable for 2024/25 set out in Appendix B.