Issue - meetings

Financial Performance Report 2024-25 Quarter One

Purpose

This report sets of the initial budget monitoring position for the 2024/25 financial year.

Recommendations

That Cabinet resolves to:

1. Review and notes the financial position set out in this report.

2. Agree to the recommendation in paragraph 8.3 that Cabinet continue to review in-year opportunities with Publica and Ubico to mitigate the forecast financial position.

Additional documents:

Decision:

The purpose of the report was to set out the initial budget monitoring position for the 2024/25 financial year.

The Chair as Deputy Leader and Cabinet Member for Finance, Councillor Evemy introduced the report.

The Deputy Chief Executive and S.151 Officer also addressed the details of the report.

The recommendations were proposed by Councillor Mike Evemy.and seconded by Councillor Paul Hodgkinson.

RESOLVED: That Cabinet:

1. Review and NOTED the financial position set out in this report.

2. AGREED to the recommendation in paragraph 8.3 that Cabinet continue to review in-year opportunities with Publica and Ubico to mitigate the forecast financial position.

Voting Record

5 For, 0 Against, 0 Abstention, 3 Absent/Did not vote

Minutes:

The purpose of the report was to set out the initial budget monitoring position for the 2024/25 financial year.

The Deputy Leader and Cabinet Member for Finance, Councillor Mike Evemy, introduced the report:

· Table ES2 in Para 2.3 showed the current variances to the budget where areas like garden waste and bulky waste income were up against the budget and cemeteries and land charges were below the expected budget.

· There were some additional adverse variances for Elections which included the cost of tablets trialled in polling stations.

· The waste rezoning was noted as having some additional costs around communications and providing an extra Saturday collection.

· A provision of £148,000 was to be used for any additional costs arising from the Publica Review.

· The Capital Programme outturn forecast showed a forecasted spend of £8.7m.

· Whilst inflation had fallen, the economic environment was still quite fragile.

· The Pay Award for 2024/25 had still not been settled with the trade unions following an offer through Local Government Employers of 2.5%. However there was provision for an award up to 5% for Council and Publica staff and 6% for Ubico staff.

· Car park fee income was ahead of budget other than one week in June 2024.

The Deputy Chief Executive and S.151 Officer also addressed the details of the report:

· There was a drafting error in 8.1 which referenced a £73,000 overspend rather than £145,000 overspend which was the actual amount.

· Publica was reporting to its board a £69,000 underspend for the Council specifically which was not factored into the Council’s budget.

· On the Capital Programme, the overspend forecast for Disabled Facilities Grants would be updated through the drawdown of money from the Better Care Fund provided by Gloucestershire County Council.

Cabinet noted that the position was positive despite the many challenges that existed with local government funding especially when upper tier authorities required further funding for areas like special needs education.

The Deputy Leader referred to the commitment for a multi-year settlement for Local Government in the future which would provide stability for the sector.

The recommendations were proposed by Councillor Mike Evemy and seconded by Councillor Paul Hodgkinson.