Issue - meetings

Report of the Director – Finance and Corporate Services

The Senior Finance Business Partner presented the Q3 financial monitoring for 2025/26 and advised the Group that the Council continues to to face significant challenges including rising costs, increased demands for services and the need to balance its budgets while maintaining service quality. In addition, policy changes and Local Government Reorganisation (LGR), has added further cost pressures and demands on officer resources.

The Group were informed of the projected net revenue efficiencies and the significant variances arising from additional investment interest, unallocated contingency budget, additional grants and savings in Neighbourhoods and Streetwise. It was noted that any savings were offset by a reduction in planning income resulting from a reduced demand. Appendix A of the report provided the proposals to carry budget forward into 2026/27 and to earmark funding for additional cost pressures and the financial challenges around LGR and Simpler Recycling as previously reported.

The Group were informed of a projected capital underspend the majority of which is due to capital budget programme reprofiling and will be requested to be carried forward at the year end. The significant underspends highlighted in the report related to land acquisition for carbon offsetting, Rushcliffe Oaks PV works, highways and verge enhancements and Edwalton Golf Course enhancements following flood mitigation works.

The Senior Finance Business Partner informed the Group that the Q3 position of the Special expenses budget provides a projected expenditure of £1.7k above budget, however at Q2 this was reported as a £19k overspend, works to Bridgfield fencing have been capitalised and the saving against this budget has offset the previously reported overspends.

In concluding the Senior Finance Business Partner advised the Group the revenue position remains relatively healthy and the position on capital is positive and while long term capital resources are diminishing, it is anticipated that there will be no need to externally borrow this financial year. However, it was noted that existing budgets are under pressure from inflation and rising costs of labour and resources. The focus remains on delivering the capital programme alongside the demands of LGR.

The Assistant Director for Corporate Services presented the Q3 performance monitoring of the Corporate Strategy 2024-27, advising the Group that four of the fourteen strategic tasks are compete and the majority of the remainder have reached 50% progress, indicating they are on target for completion by the end of the strategic period. A full corporate scorecard was provided at Appendix G of the report.

The Group were advised that 9 of the performance indicators had missed their targets as follows:

·       Percentage of household waste sent for reuse, recycling and composting

·       Number of fly tipping cases

·       Percentage of recycling contamination rate

·       Cumulative number of successful homelessness prevention outcomes

·       Number of leisure centre users – public

·       Level of income generated through letting property owned by the Council but not occupied by the Council

·       Percentage of expected Cuncillors attending in-person training events this year

·       Income generated from community buildings

·       Number of missed bins (residual dry recycling, glass and garden waste0 reported

The Assistant  ...  view the full minutes text for item 26