Issue - meetings

The Executive Member for Financial Sustainability presented the Quarterly Corporate Budget Monitor for Quarter 2. He said that Quarter 2 was predicting a £192k overspend which represented 1.7% of the council’s net revenue budget.

Councillor Williamson said that the significant variances and their reasonings were given in Appendix B. He said that given the inflationary pressures in contract, utilities, and salary costs, he said it had been a considerable feat to contain the budget and thanked Officers for their hard work.

Councillor Buckmaster said that a £192k overspend on a £11.5 million revenue budget was not a bad result. He said that he was often asked by colleagues and residents why there was slippage on capital projects and he said that the last four years had been challenging with the pandemic and now the impact of the invasion of Ukraine had had on inflation. He said the council had taken a step back and looked at costs and he was proud of what the council had achieved at Grange Paddocks, Castle Park, Hartham Leisure Centre and Hertford Theatre.

Councillor Haysey agreed and said that there were not many districts who had the ability to deliver the capital projects that East Herts had. She said this was down to the hard work and dedication of the council’s Officers.

Councillor Williamson proposed, and Councillor Goodeve seconded a motion supporting the recommendations in the report. On being put to the meeting and a vote taken, the motion was declared CARRIED.

RESOLVED – that (a) the forecast net revenue budget forecast overspend of £192k be welcomed and that measures to contain the inflationary pressures in year have been successful be noted; and

b) the capital programme forecast outturn of £21.057m and the reasons for the scheme slippages be noted.