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 as detailed in paragraph 8.12 and Appendix 3 of the report;

(3)  the outstanding Sundry Debt position as at December 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 nine months and the approval of additional expenditure required during the financial year.

Particular reference was made to:-

·         a number of service projects were likely to run over into the next financial year, with a predicted service underspend of £2.9 million, and future supplementary budget requests would need to be made; and

·         there were requests for three supplementary budgets, two of which were for reductions in the budget for areas to be carried forward into the next financial year and one for the depreciation budgets.

Opposition group leaders spoke on the item and made the following points:-

·         Cllr Mitchell – enquired on the terminology of ‘income realignment’ in relation to parking and trade waste.

·         Cllr Moore – enquired on the risk related to the commercial income generation and what was being done to address the ongoing issue.

During the debate, a Member advised that trade waste realignment referred to original income targets being unrealistic and had been amended to set a more realistic target to support the service.

In response to questions raised, the Director Finance advised that:-

·         budget realignment involved the reduction of income budget for trade waste and car parks to reflect the Council’s current financial circumstances;

·         the capital programme was proving a challenge to deliver and had not currently required borrowing, with the Council using its own existing funds to finance it and therefore, no additional loans had been taken out;

·         commercial income initiatives would be considered over the next financial year as part of the budget process.

The Leader moved, and Councillor Denning seconded, the recommendations which were voted upon and CARRIED unanimously.

RECOMMENDED that Council notes and approves (where applicable):

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

(2)  the supplementary budgets as detailed in paragraph 8.12 and Appendix 3 of the report;

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

(4)  the creditors payments performance; and

(5)  the One Exeter programme update.