Report of the Executive Director of Corporate Resources and Customer Services
Minutes:
Further to Minute No. 132 of the meeting of the Cabinet held on 8 February 2024, the Council considered the report of the Executive Director of Corporate Resources and Customer Services indicating that, to comply with statute, the Chief Financial Officer was required to report to Council prior to the approval of the budget and the setting of the Council Tax, to give assurance that the budget was robust and that there were adequate reserves and balances. The report was based on the proposals presented. The Local Government Act 2003, (section 25 as amended) required the Chief Financial Officer to report formally on the following issues:
a) An opinion as to the robustness of the estimates made and the tax setting calculations; and
b) The adequacy of the proposed financial reserves.
It was moved by Councillor Atkinson, seconded by Councillor Fairclough and
RESOLVED: That
(1) it be noted that the Local Government Act 2003, (Section 25 as amended) requires the Chief Financial Officer to report formally the issues of an opinion as to the robustness of the estimates made and the tax setting calculations; and the adequacy of the proposed financial reserves; and
(2) the Council be recommended to have regard to the matters raised in the report during the final stages of determining the budget for 2024/25.
Report of the Executive Director of Corporate Resources and Customer Services
Minutes:
Further to Minute No. 43 of the meeting of the Overview and Scrutiny Committee (Regulatory, Compliance and Corporate Services) held on 6 February 2024, the Cabinet considered the report of the Executive Director of Corporate Resources and Customer Services indicating that, to comply with statute, the Chief Financial Officer was required to report to Council prior to the approval of the budget and the setting of the Council Tax, to give assurance that the budget was robust and that there were adequate reserves and balances. The report was based on the proposals presented. The Local Government Act 2003, (section 25 as amended) required the Chief Financial Officer to report formally on the following issues:
a) An opinion as to the robustness of the estimates made and the tax setting calculations; and
b) The adequacy of the proposed financial reserves.
Decisions Made:
That
(1) it be noted that the Local Government Act 2003, (Section 25 as amended) requires the Chief Financial Officer to report formally the issues of an opinion as to the robustness of the estimates made and the tax setting calculations; and the adequacy of the proposed financial reserves; and
(2) the Council be recommended to have regard to the matters raised in the report during the final stages of determining the budget for 2024/25.
Reasons for the Decisions:
The Local Government Act 2003, (section 25 as amended) required the Chief Financial Officer to report formally on the issues contained within the report.
Alternative Options Considered and Rejected:
None.
Report of the Executive Director of Corporate Resources and Customer Services
Minutes:
The Committee considered the report of the Executive Director of Corporate Resources and Customer Services on the robustness of the 2024/25 Budget Estimates and the Adequacy of Reserves – Local Government Act 2003 - Section 25.
The report indicated that to comply with statute, the Chief Financial Officer was required to report to Council prior to the approval of the budget and the setting of the Council Tax, to give assurance that the budget was robust and that there were adequate reserves and balances.
The report concluded that as a result of considering the issues contained within the report, it was the view that the budget proposed was a robust budget package whilst also ensuring that there were adequate General Balances to draw on if the service estimates turned out to be insufficient; and that this opinion was provided in accordance with Section 25 of the Local Government Act 2003.
This report would also be considered by Cabinet and Council at their meetings to be held on 8 and 29 February 2024 respectively.
Members of the Committee asked questions/commented on the following issues:
· The use of earmarked reserves of over £25m due to the unprecedented pressure in Childrens Services and from energy prices increases meaning that it was important that as the report says these should be replenished.
· The impact on the Council’s budget if the independent Improvement Board Chair recommended that Children’s Services provision be removed from the Council to an external trust. – no modelling has been undertaken on this as it had not been requested or suggested by any internal or external person or body
· The total figure of school reserves.
RESOLVED:
That it be noted that the Local Government Act 2003, (section 25 as amended) requires the Chief Financial Officer to report formally on the following issues:
(a) |
an opinion as to the robustness of the estimates made and the tax setting calculations; and
|
(b) |
the adequacy of the proposed financial reserves; |
and that the Council is requested to have regard to the matters raised in this report during the final stages of determining the budget for 2024/25.