Decision details

The Leader moved the recommendations, seconded by Councillor Wright, and invited the Strategic Director for Corporate Resources to introduce the report

The Strategic Director for Corporate Resources in presenting the report made the following points:

·        the report highlighted there were continued financial challenges;

·        the General Fund working balance was projected to fall below its minimum recommended level;

·        with 28 days remaining in the current financial year, the final position would be assessed after year-end and officers would prepare a list of recommendations for Council to consider in June 2026 as part of the outturn reports if any actions were needed;

·        the shortfall was primarily due to delays in implementing planned savings, which were part of a longer term strategy to balance the budget over multiple years; and

·        there had also been some unavoidable costs exceeding the budget, but many of those had been addressed in the recently approved budget.

The Strategic Director for Corporate Resources responded to Members questions as follows:

·        the overall budget for car park income had been between £9.5 million and £10 million of income, and was currently down by £895,000;

·        the car parking fee increase was approved in February and the full-year effect was expected to significantly improve income;

·        some costs had increased such as the Ringgo expansion, but other budget recommendations and a new app contract would help reduce expenses;

·        car parking finances would improve and no additional income assumptions had been built into this year’s budget;

·        regarding final costs for Northbrook, the final closure cost was not yet available and negotiations with the trust were still ongoing;

·        asset maintenance related to rental income at the Civic Centre, which would not improve by the end of the financial year; and

·        a more realistic figure had been included in next year’s budget, which would address the issue going forward.

Following a vote the recommendations were CARRIED.