Issue - meetings

Financial Management 2023/24 to 2026/27 - Revenue and Capital Budget Update 2023/24 – September Update

Meeting: 12/09/2023 - Overview and Scrutiny Committee (Regulatory, Compliance and Corporate Services) (Item 14)

14 Financial Management 2023/24 to 2026/27 - Revenue and Capital Budget Update 2023/24 – September Update pdf icon PDF 690 KB

Report of the Executive Director of Corporate Resources and Customer Services

Additional documents:

Minutes:

Further to Minute No. 63 of the meeting of the Cabinet held on 7 September 2023 the Committee considered the report of the Executive Director of Corporate Resources and Customer Services that advised of:

 

(1)

the current position relating to the 2023/24 revenue budget;

 

(2)

the current forecast on Council Tax and Business Rates collection for 2023/24;

 

(3)

the monitoring position of the Council’s capital programme to the end of July 2023 in respect of:

 

·       the forecast expenditure to year end;

·       variations against the approved budgets and an explanation of those variations for consideration by Members; and

·       updates to spending profiles and proposed amendments to capital budgets necessary to ensure the efficient delivery of capital projects are also presented for approval; and

 

(4)

the latest performance management information for 2023/24.

 

Members of the Committee asked questions/commented on the following issues:

 

·       Reference was made to the Pay Award provision.

·       Amounts to be allocated to Sefton from the Local Transport Capital Block Funding – Pothole Fund and how it would be distributed. A written response would be sought.

·       The budget for Children’s Social Care and the demand for services, together with out-of-borough placements of children receiving services.

 

RESOLVED:

 

(A)

That in respect of the Revenue Budget:

 

(1)

the current position relating to the 2023/24 revenue budget be noted;

 

(2)

the actions being taken to refine forecasts and identify mitigating efficiencies to ensure each service achieves a balanced position be noted;

 

(3)

the financial risks associated with the delivery of the 2023/24 revenue budget be recognised and it be acknowledged that the forecast outturn position will continue to be reviewed, and remedial actions put in place, to ensure a balanced forecast outturn position and financial sustainability can be achieved; and.

 

(4)

the requests for specific supplementary revenue estimates funded from additional grant funding referred to in the report be noted; and

 

(B)

That in respect of the Capital Programme:

 

(1)

Note the spending profiles across financial years for the approved capital programme (paragraph 8.1) be noted;

 

(2)

the latest capital expenditure position as at 31 July 2023 of £7.195m (paragraph 8.16) and that the latest full year forecast is £63.999m (paragraph 8.17) be noted;

 

(3)

the requests for specific supplementary capital estimates funded from additional grant funding referred to in the report be noted

(4)

it be noted that the Council will procure an updated Stock Condition Survey for Crosby Library; and

 

(5)

It be noted that capital resources will be managed by the Executive Director of Corporate Resources and Customer Services to ensure the capital programme remains fully funded and that capital funding arrangements secure the maximum financial benefit to the Council;

 

(C)

the latest position relating to key performance measures be noted; and

(6)

The Assistant Director of Place (Highways and Public Protection) be requested to provide information on the Local Transport Capital Block Funding – Pothole Fund to the Senior Democratic Services Officer, for circulation to Committee Members.