Issue - meetings

This report sets out the 2025/26 revenue and capital budgets for this Committee to consider and recommend for submission to the Policy and Finance Committee on 13 February 2025.

The Group Head of Finance and Section 151 Officer presented the committee’s revenue and capital budgets for inclusion in the council’s 2025/26 budget which the committee was being asked to approve.  The committee was alerted to a supplement which provided an updated report and additional information on some of the key changes set out in the table at paragraph 4.4. It was confirmed that no adjustments had been made to any of the figures contained within the report.

          The Group Head of Finance and Section 151 Officer explained the key changes and confirmed that the revenue budget showed a net increase of £38k between 2024/25 and 2025/26. The investment of £280k in the asset management review project would produce high level business case option appraisals within the general fund portfolios generating proposals for further investigation.  This was a key piece of work confirmed in the council’s financial strategy approved by council last year and would develop an Asset Management Strategy which would generate and identify ideas for cost savings and opportunities for increased revenue income and capital receipts.

It was acknowledged that this was a prudent and cautious budget and that it was  essential for the council to approach the budget in this way so that it could address the  budget deficit.

Before inviting members to debate the item, the Chair requested members to propose and second the officer recommendation as detailed in the report. The recommendation was proposed by Councillor Stanley and seconded by Councillor  Northeast.

          In considering the report, there was interest in economic regeneration and what previous expenditure, or any new expenditure was proposed to be spent in supporting businesses in the district’s high streets. The Group Head of Finance and Section 151 Officer confirmed that no growth had been identified in this budget other than the £235k investment in the asset management review project mentioned earlier. In terms of what had been spent, the Director of Growth confirmed that the council had allocated some money received from the West Sussex Business Rates Pool towards supporting town centres and in particular Littlehampton given the challenges it was experiencing and that funding had also been directed to supporting the Littlehampton Town Centre Task Force being set up by this council in conjunction with Littlehampton Town Council.

Further discussion took place regarding the figures for economic regeneration in Appendix A and if further detail could be provided regarding the variances as there had been a reduction in budget from 2024/25 to 2025/26. The Group Head of Finance and Section 151 Officer confirmed that if members wished to receive expanded information, these would be provided in writing outside of the meeting He also referred Members to paragraph 4.4 of the report which summarised the changes in the budget since 2024/25.  Debate continued where it was claimed that it was that it was proposed that the economic regeneration budget would be cut by 27% yet the property and estates budget would increase by 77%. An explanation was sought, and concern was  ...  view the full minutes text for item 469