Issue - meetings

Executive’s approval was sought for the 2024/25 revised budget for the General Fund, Housing Revenue Account and Capital Programme.

As per the report, the Portfolio Holder for Resources noted that this was the second revised budget report presented to Members since Dragonfly began operating some services on the Council’s behalf.  However, the report was only concerned with the Council’s services and therefore, did not include expenditure or income relating to the commercial activities of the Dragonfly company.

General Fund Revenue Account

Appendix 1 to the report showed the original budget for 2024/25 (approved by Council in January 2024), the current budget which reflected budget transfers and approved changes during the financial year, and the proposed revised budget for 2024/25.

Housing Revenue Account (HRA)

The Housing Revenue Account revised budget for 2024/25 was set out in Appendix 3 and 4 to the report.  Expenditure on the HRA was showing a net decrease against current budgets of £0.075m.  Income, in total, was £0.373m lower than the current budget. Appendix 4 detailed the net cost of each cost centre by Directorate.

Capital Programme

The Council’s capital programme was shown in Appendix 5 to the report.  It had been updated from the original budgets to reflect approvals within the year and the profiling of the individual schemes following approved changes by Members and from detailed discussions with budget officers.

Insurance

Insurance premiums had increased for staff, premises and motor, and paragraphs 2.8 – 2.12 of the report provided more detail on the insurance position regarding Pleasley Vale Business Park.

Moved by Councillor Clive Moesby and seconded by Councillor Duncan McGregor

RESOLVED that 1) the revised General Fund budget for 2024/25 as set out in Appendix 1 and detailed in Appendix 2 to the report, be approved,

2)    the revised HRA budget for 2024/25 as set out in Appendix 3 and 4 of the report, be approved.

3)    the revised Capital Programme for 2024/25 as set out within Appendix 5 of the report be approved.

Reasons for Recommendation

The purpose of the report was to set revised budgets as early as possible within the financial year to ensure that identified budget savings were realised, that all budget managers were working to the revised budgets and to allow any planned changes to be delivered.

Alternative Options and Reasons for Rejection

General Fund and HRA

Any surplus on the Council’s two main revenue accounts will result in an increase in financial balances at the year-end which are available to protect services at a time of financial uncertainty in Local Government. It is proposed that additional resources would be transferred to reserves in preparation for future expenditure.

Capital

There are no alternative options being considered with regard to the proposed allocations from the Capital Programme budget as it ensures the Council’s assets meet health and safety requirements in that they are maintained in a fit for purpose state that ensures they remain fully operational.