Issue - meetings

To receive a report presenting details of the Council’s projected financial performance for 2022/23.

Executive Councillor: B Mickelburgh.

The Cabinet has considered and commented upon the revenue financial performance to the end of December 2022 (as detailed in Appendix 1 and summarised in paragraph 3.2 of the submitted report) and considered and commented upon the capital financial performance at the end of December 2022 (as detailed in Appendix 1 and summarised in paragraph 3.3 and the prudential indicators as detailed in Appendix 2 of the submitted report).

A report by the Director of Finance and Corporate Resources was submitted (a copy of which is appended in the Minute Book) presenting details of the Council’s projected financial performance for 2022/23.

The Director of Finance and Corporate Resources drew the Cabinet’s attention to a minor typographical error in paragraph 3.1 of the report where it was noted that the revenue budget was forecasting an “overspend” not “underspend” of £0.055m. In noting that the trends were similar to that reported in Quarter 2, increased costs had arisen as a result of gas and electricity costs, increased staffing costs in Leisure and Health and temporary accommodation costs. The impact of increased interest rates had resulted in extra costs of £950,000 per annum and it was reported that an agreement for the People for Places Loan was currently awaited which would further impact upon the Council’s financial position. The forecast outturn at the end of Quarter 3 was projected to be £21.569m with the capital forecast expected to be £10.421m against a budget of £41.899m reflecting an underspend of £31.478m. The latter was attributed to the rephasing of some projects, which included the Huntingdon Redevelopment, Future High Street Funds and Market Towns Programme and Hinchingbrooke Country Park Redevelopment Scheme.

In respect of the Market Towns Programme, the Executive Councillor for Jobs, Economy and Housing reported that whilst spending had not occurred yet, the Officer Team were working hard to get the scheme up and running.

Having been acquainted with the views of the Overview and Scrutiny Panel (Performance & Growth) which had been delivered by the Executive Councillor for Planning and in noting the recent announcement made about the all staff one-off payment, the Executive Leader reported upon the overwhelmingly positive comments she had received from staff following the announcement of the award. Cabinet Members concurred that the timing of the award worked well in light of the current economic climate and cost of living crisis. Whereupon, the Cabinet

RESOLVED

a)  to consider and comment on the revenue financial performance to the end of December 2022, as detailed in Appendix 1 and summarised in paragraph 3.2 of the report now submitted; and

b)  to also consider and comment on the capital financial performance at the end of December 2022, as detailed in Appendix 1 and summarised in paragraph 3.3 and the prudential indicators as detailed in Appendix 2 of the report now submitted.

The Panel is to receive the Finance Performance Report 2022/23 Quarter 3.

By means of a report by the Director of Finance and Corporate Resources (a copy of which was appended in the Minute Book) the Finance Performance 2022/23 Quarter 3 Report was presented to the Panel.

Following questions from Councillor Blackwell relating to the one off payments for permanent staff, the Panel heard that these would be made in the March 2023 salaries and that staff would be advised of this by email following the meeting.

After a further question on staff retention from Councillor Blackwell, the Panel were advised that work was being undertaken to celebrate staff and recognise their achievements.

It was clarified to the Panel, following a query from Councillor Gray, that the early repayment of the People for Places and respective PWLB loans had still proved beneficial for the Council. 4.6 Councillor Gray further enquired whether more caution would be exercised following issues recouping money in relation to CCTV Shared Service staffing. The Panel were assured that the team were fulling involved in ensuring due diligence across such matters, as was evidenced in the highlighted example.

Following questions from Councillor Cawley relating to the anticipated income for One Leisure, the Panel were assured that the figures were sustainable following the introduction of an improved sales management system and robust plans to deliver a better service than previously offered by a third party operator at the California Road site.

It was clarified to the Panel, following a question from Councillor Gardener, that following long term vacancies in the street cleansing service, three posts had been deleted after being identified as no longer required.

It was thereupon

RESOLVED

that the comments of Overview and Scrutiny be passed to the Cabinet for consideration when making a decision on the recommendations contained within the report.