Issue - meetings

The Executive are asked to consider report E/22/15 to ensure that budget exceptions are brought to their attention in order to approve remedial action where necessary and to ensure that the project at Low Street, Tadcaster can progress.

The Lead Executive Member for Finance and Resource presented the report which asked Members to endorse the actions of Officers, note the contents of the report and approve re-profiled capital programmes and Programme for Growth and approve a permanent virement of £2,000 per annum from the LEP and Partnership budget, to facilitate the additional maintenance costs resulting from the proposed improvement works to the Sherburn in Elmet, Low Street site.

The Executive noted that at the end of Q1 the estimated full year revenue outturn indicated surpluses of (£382k) for the General Fund (GF) and a £28k deficit for the Housing Revenue Account (HRA) before pay award. Should the pay award offer which was currently under consideration by the unions be accepted, it was anticipated that this will reduce the GF surplus to (£45k) and increase the HRA deficit to £184k.

The Executive Member explained that all new general fund savings had been delayed to 2024/25, post Local Government reorganisation (LGR). The £195k saving in the Housing Revenue Account for the housing system would be aligned to delivery of phase 2 of the project, which was anticipated to be in September 2022, although savings could not be realised until future years, and resource requirements for local government reorganisation could impact on delivery timescales.

Members were aware that the capital programme was currently underspent by (£26k) at the end of quarter 1; both the GF and HRA forecasted their programmes to be spent by year end except for the housing acquisition and development programme, which has been spread over two years. Programme for Growth projects spend was £658k in quarter 1 including £224k on staffing costs, £165k on the Transforming Cities Fund project and £122k on the Tadcaster business flood grant scheme.

Members acknowledged that ongoing inflation would continue to affect all local authorities across the country.

The Executive Member for Finance and Resources commended the report.

RESOLVED:

The Executive

1.    endorsed the actions of Officers and noted the contents of the report;

2.    approved re-profiled capital programmes and Programme for Growth; and

3.    approved a permanent virement of £2,000 per annum from the LEP and Partnership budget, to facilitate the additional maintenance costs resulting from the proposed improvement works to the Sherburn in Elmet, Low Street site.

REASON FOR DECISION:

To ensure that budget exceptions are brought to the attention of the Executive in order to approve remedial action where necessary and to ensure that the project at Low Street, Tadcaster could progress.