Issue - meetings

Purpose: to present the forecasted outturn position for financial year 2024/25 against the approved capital programme and financing implications for financial year 2025/26.       

Resolved that: Executive notes

·         The forecast outturn position of planned expenditure of £60.1 million against the annual budget of £64.9m, creating a forecast £4.8 million underspend.

Executive approves:

·         The proposed reprofiling of planned expenditure from 2024/25 into 2025/26 of £8.1 million, detailed by service in appendix B.

·         The proposed transfer of council funded expenditure budget totalling £0.47 million from 2025/26 into 2024/25 for support of the Playing Pitch action plan.

·         £2.9 million of external funding relating to the Superfast Broad Band project is allocated and the planned project expenditure is funded accordingly. 

Councillor Iain Cottingham introduced and proposed a report (Agenda Item 6), which presented the forecasted outturn position for financial year 2024/25 against the approved capital programme and financing implications for financial year 2025/26.

Councillor Cottingham reported a forecast planned expenditure of £60.1m with a proposed reprofiling of £8.1m from 2024/25 to 2025/26. Councillor Cottingham highlighted some key projects including a £1.4m expansion project at the Castle School, £5.4m to redevelop the dry side provision at Northcroft Leisure Centre and £3.9m of carbon reduction and solar initiative projects.

Councillor Ross Mackinnon queried why the £8.1m had not been spent by the Executive. Shannon Coleman-Slaughter (Section 151 Officer), responded that the expenditure was being re-profiled due to project delays. Councillor Cottingham noted that there were issues in recruiting project managers.

Councillor Mackinnon queried the level of officer time and internal resource that had been taken up with the Faraday Road project. Councillor Cottingham noted that the project had been a manifesto commitment.

Councillor Mackinnon referred to section 2.2(b) of the report and queried whether it related to the Faraday Road project. Councillor Cottingham clarified that the figure related to the holistic Playing Pitch action plan. In response to a further query, Councillor Cottingham confirmed that the sum had increased from the March budget due to a reprofiling and re-assessment of the level of investment required for the Playing Pitch Strategy. 

In response to a query from Councillor Mackinnon, Councillor Stuart Gourley clarified that of the £0.76m of external funding, £338,000 would be allocated specifically to drainage and flood risk projects.

Councillor Jeff Brooks seconded the recommendations within the report.

RESOLVED that: Members noted

·         The forecast outturn position of planned expenditure of £60.1 million against the annual budget of £64.9 million, creating a forecast £4.8 million underspend.

Members approved the following budgetary amendments:

·         The proposed reprofiling of planned expenditure from 2024/25 into 2025/26 of £8.1 million, detailed by service in appendix A.

·         The proposed transfer of council funded expenditure budget totalling £0.47 million from 2025/26 into 2024/25 for support of the Playing Pitch action plan.

·         £2.9 million of external funding relating to the Superfast Broad Band project is allocated and the planned project expenditure is funded accordingly.

·         £0.76 million of external funding (s106, CIL and DFT grant), relating to Street lighting improvements, Essential maintenance budgets, Drainage & flood risk projects and Car park improvements is allocated to cover in year expenditure.