Issue - meetings
Budget Monitoring Report Q1
Meeting: 04/09/2025 - Finance and Corporate Overview Scrutiny Committee (Item 10)
10 Budget Monitoring Report Q1 
PDF 538 KB
Additional documents:
- 7.1 Appendix 1 GF Summary, item 10
PDF 50 KB
- 7.2 Appendix 2 GF detail Q1, item 10
PDF 173 KB
- 7.3 Appendix 3 HRA summary Q1, item 10
PDF 55 KB
- 7.4 Appendix 4 HRA detail Q1, item 10
PDF 50 KB
- 7.5 Appendix 5 Capital 2025 Q1, item 10
PDF 67 KB
- 7.6 Appendix 6 TM 2025 Q1, item 10
PDF 100 KB
Minutes:
The Deputy Section 151 Officer presented the report to the Committee on the financial position of the Council following Quarter 1 2025/26’s budget monitoring exercise for the General Fund (GF), the Housing Revenue Account (HRA), Capital Programme (CP) and Treasury Management (TM) activity.
The GF Revenue Account summary was attached at Appendix 1. The original budget for 2025/26 showed a contribution from the National Non-Domestic Rates (NNDR) Growth Protection Reserve of £0.049m, a deficit in effect. The current budget showed this to be a transfer to the reserve after adjustments had been made to the business rates figures for the actual 2025/26 NNDR1 return, and the estimated business rates surplus of £2.454m.
After the Council Tax increase, and after other small movements were included, the current budget overall showed a surplus of £0.139m. As savings were identified and secured, they were moved into the relevant cost centres within the main GF Directorates. Details of the net cost of each cost centre within the Directorates Attached was attached at Appendix 2.
Table 1 of the report showed the latest position of all years in the current Medium-Term Financial Plan (MTFP):
|
|
2025/26 Budget £’000 |
2026/27 Budget £’000 |
2027/28 Budget £’000 |
2028/29 Budget £’000 |
|
Net Cost of Services
|
15,609 |
15,733 |
16,349 |
16,904 |
|
Net debt charges + investment interest
|
(1,635) |
(2,068) |
(2,415) |
(2,619) |
|
Net t/f to/(from) reserves + balances
|
1,209 |
568 |
524 |
471 |
|
Net t/f to/(from) NNDR Growth Protection Reserve
|
(49) |
(4,964) |
(5,017) |
(4,180) |
|
Parish precept
|
4,583 |
4,583 |
4,583 |
4,583 |
|
Funding from council tax, business rates and government grants |
(19,717) |
(13,852) |
(14,024) |
(14,206) |
|
Use of GF balance |
0 |
0 |
0 |
953 |
The Council had made the strategy to save extra income earnt in years when more than estimated was received (to use these savings in future years’ when income was reduced).
Once work that began in August 2025 on the revised budgets had been completed, the revised position would be presented to Committee in late 2025. The work on the MTFP update and the new year would begin in Quarter 3 2025/26 and would be presented to Members January 2026.
The estimate of the reserve position was as follows:
|
|
£ |
|
Opening Balance at 01/10/2024
|
(1,000,000) |
|
Insurance claims settled during 2024/25
|
6,478 |
|
Closing Balance at 31/03/2025
|
(993,522) |
|
Cost of settling current claims*
|
145,337 |
|
Estimated Balance at 30/06/2025 |
(848,185) |
*This related to 2 live claims and leaves an estimated balance of £848,185.
The HRA summary for Quarter 1 2025/26 was attached at Appendix 3.
Details of the net cost of each cost centre within the HRA and some details for the larger variances was attached at Appendix 4.
The CP summary for Quarter 1 2025/26 was attached at Appendix 5.
The undertaken activity of the TM undertaken during Quarter 1 2025/26 was attached at Appendix 6.
A Member requested the work by Dragonfly Development Ltd., the profits it had generated, and the £0.300m profit brought in by Leisure Services be noted.
A Member requested the work by Dragonfly Management (Bolsover) Ltd. and the income lost from ... view the full minutes text for item 10