Agenda and minutes
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Comments from members of the public
To receive comments or views from members of the public at the Committee’s discretion. Additional documents: Minutes: There were none. |
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Register of attendance, membership and apologies for absence
Additional documents: Minutes: Apologies for absence were received from Councillors Hannah Westropp, Amanda Wheeler, Julia Reid, Penny Milnes, and John Dawson.
Councillor Murray Turner substituted for Councillor Amanda Wheeler. |
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Disclosure of interests
Members are asked to disclose any interests in matters for consideration at the meeting. Additional documents: Minutes: There were none.
All Group Leaders declared that no whipping arrangements were in place at this meeting. |
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Minutes from meeting held on 12 January 2022
Additional documents: Minutes: It was proposed, seconded, and AGREED the minutes of the meeting held on 12 January 2022 be confirmed as a correct record. |
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Updates from the previous meeting
Additional documents: Minutes: Members noted the action sheet. There were no further comments. |
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Budget Proposals for 2023/24 and Indicative Budgets for 2024/25 and 2025/26
This report presents to the Budget – Joint Overview and Scrutiny Committee the draft Budget estimates for 2023/24 for both the General Fund and the Housing Revenue Account and provides the details that have been included in the budget proposals. Additional documents: Minutes: The Chairman requested the Joint Budget Overview and Scrutiny Committee follow the order of items for discussion to effectively scrutinise each area of the report:
1. Spending overview and provisional settlement 2. General Fund - Revenue 3. Housing Revenue Account - Revenue 4. Fees and Charges 5. Capital Programme and Financing – General fund and Housing Revenue Account 6. Reserves and Balances – General Fund and Housing Revenue Account 7. Risk register
Spending overview and provisional settlement
The Deputy Leader of the Council presented the area of the report that set out the notification of the pre-provisional settlement to which the Council were informed of on the 19 December 2022. The settlement was largely in line with previous expectations.
There had been no specific allocation to deal with the rising energy and inflationary costs, there had been an expectation from Government for Local Authorities to utilise reserves to fund any shortfalls of imbalance within their budgets. This is the approach the Council would need to consider as previously established within the report, the budget stabilisation reserve served this purpose.
It was noted that the final settlement would not be known until end of January 2023. The Chief Finance Officer outlined previously discussed items at the Finance, Economic Development Corporate Overview and Scrutiny Committee in relation to the confirmation of settlement information as set out in the report.
One Member queried whether the blend of all financial factors was a balanced position. The Member noted savings outlined within the report and suggested whether further improvements could be made when considering the budget proposals. The Council’s Budget Stabilisation Reserve was commented on.
Clarification was sought on the method of payment and when the money owed to the Greater Lincolnshire LEP would be paid back by.
The Chief Finance Officer highlighted that the report referenced the difficulties with the timeline of the settlement information to the Council, which was wholly outside the Council’s control because due to external influence playing on Council’s finances.
The Budget Stabilisation Reserve of £1.5 million was a prudent estimation due to the Council being cautious on budget proposals that Cabinet have considered in terms of an outlook on utilities, fuel and pay. It was hoped that in 2024, the £1.5million Budget Stabilisation Reserve could be replenished should the actual costs be less than the budgeted levels.
Information regarding the grant repayment owed to Greater Lincolnshire LEP would be considered at the next Full Council meeting on 26 January 2023.
General Fund - Revenue
The Deputy Leader of the Council presented the area of the report (table 3) that outlined the overall General Fund Reserve account which included: costs of services, investment income, use or reserves, grant income and projected income from the Council tax and business rates for the next year 3 years.
The 2023/24 budget showed a balanced position after using reserves but there was an unbalanced position for the following years based on the current financial forecast.
Tables 4,5 and 6 in the report summarised pressures ... view the full minutes text for item 41. |
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Any other business which the Chairman, by reason of special circumstances, decides is urgent
Additional documents: Minutes: The Chairman thanked all Officers involved. |
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Close of meeting
Additional documents: Minutes: The Chairman closed the meeting at 17:10. |