Issue - meetings

To consider the report of the Director Finance.

Agreed:

RECOMMENDED that Council notes and approves (where applicable):-

(1) the General Fund forecast financial position for the 2023 financial year;

(2) the supplementary budgets and budget transfers as detailed in paragraph 8.10 and Appendix 3 of the report;

(3) the outstanding Sundry Debt position as at June 2023;

(4) the creditors payments performance; and

(5) the One Exeter programme update.

Reason for Decision: As set out in the report.

The Executive received the report which advised Members of the overall financial position of the General Fund Revenue Budgets for the 2023/24 financial year after three months and sought approval of additional expenditure required during the financial year.

Members were advised that the Council was currently on target with the revenue budget and that the positive impacts included more interest on investments, which was generating an extra £700,000, lower energy prices over last six to eight months and several internal staff vacancies, leading to an underspend on the budgets. However, there were several budgetary pressures, including the pay award which would be higher than budgeted for and a few income budgets which were underperforming and being monitored.

Reference was made to the supplementary budgets requested for Council approval, which would be funded from earmarked reserves or other incomes sources, which totalled at £47,000.

Councillor D. Moore, as an opposition group leader, spoke on this item and enquired as to how much money was being lost as a result of being unable to claim the Devon County Council shared scheme, by not having full coverage of the food waste collection service? She also enquired whether the Executive considered its approach to commercialisation and the commercialisation strategy needed to be reviewed?

Councillor M. Mitchell, as an opposition group leader, spoke on this item and noted that the shortfall on parking services was an area of concern and enquired if the major loss of income could be outlined and whether mid-year adjustments needed to be made?

In response to questions and points from Members, the Director Finance advised:-

·         the projected loss of income for the Devon County Council food waste scheme was £250,000; and

·         the impact on car parking was related to the reduction of season tickets and reduced commuter travel into the city. There were no projected in year reductions expected for car parking, which would be covered by the positive impacts discussed.

The Leader advised in regards to the enquiry on the commercialisation process that this would be reviewed in due course.

RECOMMENDED that Council notes and approves (where applicable):-

(1)  the General Fund forecast financial position for the 2023 financial year;

(2)  the supplementary budgets and budget transfers as detailed in paragraph 8.10 and Appendix 3 of the report;

(3)  the outstanding Sundry Debt position as at June 2023;

(4)  the creditors payments performance; and

(5)  the One Exeter programme update.