Issue - meetings

Report of the Director – Finance and Corporate Services

The Director for Finance and Corporate Services presented the Going Concern Assessment which assessed whether the Council remained a going concern for the next 18 months. He was pleased to report that the Council was considered to be a going concern and reflected on the Council’s positive financial situation which supported that position.

The Director for Finance and Corporate Services summarised the key areas that had been considered as part of the assessment, which were detailed at paragraphs 4.3 to 4.8, including that the Council remained on course to meet its budget and to deliver its capital program for the year and that its overall net worth had increased. He confirmed that the Council had continued to invest in its assets and had healthy reserves and a healthy projected financial position.

The Director for Finance and Corporate Services referred to the projected financial position and said that the MTFS gave a largely balanced position over the next five years, although with LGR and the Fairer Funding review the situation may change. He said that the Council had a healthy level of cash and cash equivalents, strong governance structures, good regulatory controls and strong financial management as confirmed by the Internal and External audit reports.

The Chair commented that the Council was an excellent council and an exemplar of good practice and he thanked Officers for their hard work.

It was RESOLVED that the Governance Scrutiny Group noted the positive outcome of the assessment made of Rushcliffe Borough Council’s status as a Going Concern for the purposes of the Statement of Accounts 2024/25.