Issue - meetings

Report of the Director – Finance and Corporate Services

Financial Update

The Finance Business Partner presented the Council’s quarter three financial position for 2024/25.

The Finance Business Partner informed the Group that at quarter three there is a predicted a net revenue efficiency of £2.164m, with significant variances highlighted in table 1 of the report. This represented a variance of 14.23% against a budgeted Net Service Expenditure and is proposed to be earmarked for any additional cost pressures and financial challenges, such as Simpler Recycling and Local Government Reorganisation.

The Finance Business Partner reported that there was a capital budget underspend projection of £4.4m, which includes rephasing of £0.556m to 2025/26 budget and other variations including £1.5m Land Acquisition whilst the Council continues to explore opportunities for suitable land for carbon offsetting.

The Group were advised that the overall budget variance is expected to be an efficiency of around £2.164m with proposals to earmark the in-year efficiencies for specific reserves as detailed at Appendix A of the report. At table 1 within the report the Group were provided with a summary of the main pressures and efficiencies with a further full summary of all significant variances at Appendix B of the report. At table 2 in the report, the Group were provided with the expected use of the projected underspend, including IT contracts and Treasury Capital Depreciation Reserves. The Group also noted the Organisation Stabilisation Reserve which highlights the uncertainty of Local government Reorganisation.

In concluding, the Finance Business Partner advised that the current projected overall variance does mean that any borrowing requirement can be met from internal resources with no need to borrow externally for this financial year.

Performance Monitoring

The Communications and Customer Services Manager presented the third report of the new Corporate Strategy 2024-27 and the performance monitored by each theme. A full corporate scorecard was provided at Appendix F attached to the report.

With regards to the Environment, the Group were advised of seven performance indicators, two of which had not met their target as follows:

Percentage of household waste sent for reuse, recycling and composting – It was noted that there had been a considerable drop in garden waste tonnage collected, which has an adverse effect. However, overall recycling rates from both the grey and blue bins are consistent year on year.

Percentage recycling contamination rate – this has arisen from changes made to how contamination is measured by Veolia and this is being investigated by officers.

The Communications and Customer Services Manager advised the Group that further educational campaigns via the Council’s social media platforms are planned to address some of these issues.

With regards to Quality of Life the Group were advised of 11 performance indicators, with one indicator not meeting its target as follows:

Percentage usage of community facilities – the usage for quarter three is 32.3% against a usage target of 50% - whilst the percentage usage of community facilities has not met its target this has ben offset by the significant usage increase at the Council’s pitches, primarily  ...  view the full minutes text for item 30