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Issue - meetings

Q1 Financial Performance Report

 

 

Meeting: 26/09/2023 - Overview and Scrutiny Committee (Item 286)

286 Q1 Financial Performance Report pdf icon PDF 215 KB

Purpose

This report sets of the latest budget monitoring position for the 2023/24 financial year.

 

Recommendations

That the Overview and Scrutiny Committee note and scrutinise the report

 

Invited

Councillor Mike Evemy, Deputy Leader and Cabinet Member for Finance;

David Stanley, Deputy Chief Executive and Section 151 Officer;

Michelle Burge, Chief Accountant

 

 

Additional documents:

Minutes:

The purpose of the report was to set out the latest budget monitoring position for the 2023/24 Financial Year.

 

Due to time constraints, there was no introduction to the item. 

 

There was a question in regards to the certainty of the figures due to factors such as the New Homes Bonus. Members stated that this was an approximated figure but the Deputy Chief Executive disagreed on the basis that the budget which was agreed in February provided a clear rationale behind the figures used. The Deputy Chief Executive stated that the Local Government Finance Settlement was fixed and had been finalised in February 2023.

 

It was noted that no new Government funding was expected to be received within the financial year.

 

Members made reference to the Cabinet Transformation Working Group, and asked for more detail on the success of this. Cabinet Members stated that they considered it successful, but that it was a confidential group due to e.g. impact on staffing matters. Savings that had been found from the work of this group included the Channel Choice and Telephone Access report discussed earlier in the meeting.

 

It was noted that the Government was proposing an increase in planning fees, and members hoped that, subject to Parliamentary approval, this would be taken up by the Council.

 

RESOLVED: That the Committee:

1)         NOTED the report contents.

 

Voting Record - For 9, Against 0, Abstain 0

Meeting: 12/09/2023 - Cabinet (Item 170)

170 Financial Performance Report Quarter One - 2023/24 pdf icon PDF 234 KB

Purpose

This report sets of the latest budget monitoring position for the 2023/24 financial year.

 

Recommendations

That Cabinet resolves to:

1)    Review and note the financial position set out in this report

2)    Endorses the recommendation in paragraph 8.3 that the Cabinet Transformation Working Group review in-year opportunities with Publica and Ubico and provide Cabinet with an update in November on options to mitigate the forecast financial position.

Additional documents:

Minutes:

This report sets of the latest budget monitoring position for the 2023/24

financial year.

 

The Deputy Leader and Cabinet Member for the finance outlined the report and the recommendations within the report.

 

The following points were highlighted:

 

·         It was noted that the forecasted financial position at ES1 and ES2 was £450,000 worse than budgeted for. This was due to a shortfall in fees and charges in various areas which include land charges.

·         The increase in demand for waste and recycling containers. It was also noted that there was a lack of charging to developers on the provision of waste and recycling containers.

·         There was also a £66,000 provision due to the closure of the West Bromwich store which Wilko was occupying before entering administration.

·         There’s also some uncertainty and risk in regards to the ongoing pay offer of 3.8% which was rejected by trade unions.

·         There was also a £100,000 provision for Ubico if it is unable to make the £250,000 of savings also requested from Publica.

·         On ES2, there was an underspend of £42,000 by Ubico.

·         There was also an increased income from the rise in interest rates.

·         There was also an underspend projected in the spending on ICT by the council.

 

It was noted that the Cabinet Member was working to ensure that the deficit figure can be eliminated. This was particularly important in light of the recent announcement of the S.114 notice by Birmingham City Council.

 

It was reaffirmed that getting the revenue budget balanced which was imperative to continue providing services to residents locally.

 

The Leader commented that it was important to have an early focus to the financial position and how the future service provision may need to change in light of the challenges faced by all local authorities.

 

It was noted that retaining the current gap was not seen as option that could be taken.

 

It was also noted in debate that car parking was ahead of budget which was welcomed.

 

The recommendations were proposed by the Councillor Evemy, and seconded by Councillor Harris.

 

RESOLVED: That Cabinet

 

1) REVIEWED and NOTED the financial position set out in this report

2) ENDORSED the recommendation in paragraph 8.3 that the Cabinet Transformation Working Group review in-year opportunities with Publica and Ubico and provide Cabinet with an update in November on options to mitigate the forecast financial position.

 

Record of Voting – For: 8, Against 0, Abstention 0, Absent: 0

 

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