Agenda item

The Committee considered two joint reports of the Corporate Director of Resources and the Corporate Director of Regeneration, Economy and Growth.  The first provided details for the final revenue and capital out turn position for the Regeneration, Economy and Growth (REG) service grouping in 2022/23 that highlighted major variances in comparison with the budget (for copy see file of minutes).

Ed Thompson, Finance Manager Resources and Regeneration was welcomed to the Committee as the replacement for Ian Herberson.  He gave an update on the final outturn for 2022/23 that looked at the revenue and capital for the previous year.  In relation to the revenue account the service reported a cash limit variance (overspend) of £0.698m against a revised budget of £57.77m.  The REG Cash limit balance carried forward at 31 March 2023 was £1.373m and other earmarked reserves under the direct control of REG total £25.297m.  The report provided details of the areas of underspend and overspend within the service accounting for the outturn position.

In relation to the capital account actual spend to 2022/23 amounted to £76.159m from a total capital budget of £84.73m with key areas of spend highlighted in the report.

It highlighted the revenue breakdown for each service that was spent on utilities and fuel.  There was an overspend against the comparison at quarter three and there was capital expenditure incurred with a request to MOWG to carry forward an underspend.

Councillor Marshall requested if there could be further detail provided in relation to the capital account (appendix 3) of the report as the figures did not reflect what was proposed in the programme, timescales, if projects were on track or if there were any projects delayed.  He also requested a breakdown of areas of where projects were being delivered and their priority to help members scrutinise the budget reports in the future. 

The Finance Manager Resources and Regeneration agreed to take the comments back to his team and see if the information requested could be accommodated in future reports.

Resolved:

That the content of the report be noted

Councillors Crute and Marshall left the meeting at 10.40am

The second joint report of the Corporate Director of Resources and the Corporate Director of Regeneration, Economy and Growth provided details of the forecast outturn position for quarter one revenue and capital for Regeneration, Economy and Growth (REG) as at 30 June 2023.

The Finance Manager Resources and Regeneration gave an update on the outturn position to date.  He stated that there was a revenue forecast for the pending year but it was too early in the year to predict the spend.  He noted that the budget was monitored monthly.  The report showed the cash limits for each service and stressed that the financial outlook was a challenge for all services.  The Leisure Centre income was outside the cash limit as Health and Safety were carrying out investment work as part of the Leisure Strategy.

Councillor Moist reiterated that the committee would be receiving an update on the Leisure Centre Transformation Programme as part of the committee’s work programme.

Resolved

That the content of the report was noted.