Issue - meetings

Report of the Director – Finance and Corporate Services

The Service Manager – Finance presented the Council’s Statement of Accounts for the financial year 2022/23 for the Group to approve.

The Group were advised there has been no significant issues arising from the audit and the Council was in a good position in comparison to other local authorities.

The Service Manager – Finance summarised the salient points from the Statement of Accounts provided in Appendix A of the report.

The Group were asked to note that under continuing financial challenges the Council has maintained its focus on achieving a viable Medium Term Financial Strategy (MTFS), securing Value for Money and delivering and growing its services. The Council’s reserve balances remain healthy ensuring a good position to respond to both unexpected financial shocks and maintain service delivery.

Councillor Birch asked a specific question relating to the transfer of reserves from the New Homes Bonus (NHB) to offset the Minimum Revenue Provision (MRP) charges in relation to the capital cost of the Arena and Cotgrave Master plan, and whether this would have any impact on the building of new and affordable homes. The Service Manager – Finance explained that the NHB is not ringfenced for housing and the Council is free to use the NHB how we choose to help facilitate growth within the Borough.

The Group commented on Member Working Groups in reference to Transparency, adding that not all reports are publicly available on the Council’s website. Members highlighted the West Bridgford Special Expenses and CIL Advisory Group as one meeting where the Council might want to consider it being publicly available. Councillor Gowland requested that the list of annuity charges for historical works charged to the Special Expenses budget annually, is shared with Governance Scrutiny Group members.

Councillor Birch asked a specific question in relation to Business Rates collection and highlighted the Ratcliffe on Soar power station being a large contributor and whether any future development at the site had been secured. The Service Manager – Finance explained the loss of the power station business rates have been calculated and new models are being worked on. With regards to future development at the site the Group were advised this is still unknown.

Councillor Thomas asked why Rushcliffe Enterprises Account remains dormant and not closed and informed officers that the correspondence address requires updating to reflect the change in Monitoring Officer.

It was RESOLVED that Governance Scrutiny Group:

a)     Approved the Statement of Accounts for 2022/23 (Appendix A)including the Annual Governance Statement at Section B page XXIX.

b)     Delegate authority to the Director of Finance and Corporate Services to make any changes necessary resulting from the matters outstanding on the accounts and advise both the Chair of Governance Scrutiny Group and Finance Portfolio Holder accordingly, such changes to be reported to the Governance Scrutiny Group.