Issue - meetings

The purpose of the report is for this Committee to consider and recommend its revenue budget for inclusion in the Council’s overall 2024/25 revenue budget. The report also considers the Housing Revenue Account (HRA) budget for 2024/25. These recommendations will be submitted to the Policy and Finance Committee on 8 February 2024 when it considers the overall revenue and capital budgets for 2024/25 so recommendations can be made to a Special Meeting of the Council on 21 February 2024 regarding the budgets to be set and level of Council Tax for the District for 2024/25

The Group Head of Finance and Section 151 Officer was invited by the Chair to present the report.  The report recommended this Committee’s Revenue, Capital and Housing Revenue Account (HRA) budgets to the Policy and Finance Committee on 8 February 2024, as part of the overall revenue and capital budget.   He highlighted some key points from the report advising that the revenue budget in overall terms had decreased by approximately £151k from 2023-24 and included financial strategy savings of £580k.  He explained that it was expected that the HRA balance would remain below £2 million until 2027-28.  However, the balance was expected to increase to £1 million during 2024-25. The HRA surplus for 2024-25 had been budgeted at £530k and included an increase for 7.7% in rents and garage rents.  Referring to the Capital Programme, he reported that the Sheltered Accommodation and Carbonisation projects continued to be delayed.  Turning to the Revenue budget he advised that the financial forecasting continued to be difficult in the current financial climate due to the high inflation rates, although they were expected to reduce in the coming months.  There was no growth in the budget proposals, only cost increases, with the council continuing to provide the same level of service.  He drew attention to the table at paragraph 4.4 that provided details of the net change in the revenue budget between 2023-24 and 2024-25.  In particular he explained that the ’Supported Accommodation’ budget increase had arisen because the subsidy set by the Department for Work & Pensions often did not cover the cost of the rent.  The budget of £590k  for financial support to Freedom Leisure  was not required in 2024-25.  Attention was drawn to the table at 4.5 with details of the savings and the risks associated with them, in particular the Emergency Accommodation and Temporary Accommodation savings .  It was noted that the Council will receive additional homeless prevention grant funding during 2024-25, which it was hoped would help absorb some of the financial pressures the council was facing in this respect.  

The Group Head of Finance and Section 151 Officer said that whilst he expected that members may have questions on some elements of the budget, he explained that if any amendments were made to increase the total budget for the Committee would create additional financial pressure on the Council’s revenue reserves.

          The recommendations were proposed by Councillor Walsh and seconded by Councillor Yeates.

          The Chair invited members to make comment or ask any questions where and a full debate was had where a number of points were raised including the following, which were responded to by officers:

·       Information was sought regarding the increasing Voids costs, where the Committee was advised that there would always be a number of voids due to tenancy changes.  However, this was the beginning of a voids plan to improve the situation.  Included in the figures were a number of long-term vacant properties, designated for regeneration or redevelopment, which had affected the figures. 

·       Concern was raised about  ...  view the full minutes text for item 559