Issue - meetings

Executive:

a) Considered and noted the net revenue budget end of year projected overspend of £509k.

b) Accepts the additional Heritage Lottery capital fund grant of £238k for Hertford Castle Greenspace renewal and this additional resource was to be reflected in the capital programme.

c) Considered and noted the capital programme forecast outturn

underspend of £722k.

The Leader of the Council presented the report on behalf of the Executive Member for Financial Sustainability. Members heard that the Quarter 2 forecast for 2025/26 had shown a £509,000 overspend. Over 90% of planned savings had already been delivered, though key pressures remained: a £270,000 income shortfall at BEAM and a £210,000 business?rates pressure under appeal. Interest movements had improved the position by £70,000. The Capital Programme reported a £722,000 underspend, mainly in transformation and ICT. It was noted that aged debt had reduced by £547,000, with work on older debt continuing.

The Leader of the Council proposed the recommendations as set out in the report. The Executive Member for Neighbourhoods seconded the proposal.

In response to a Member question regarding whether Recommendation B on page 126, related to a future award from the Heritage Lottery Fund or to phase two of the project and the work already completed, officers confirmed that they would seek clarification and provide a later response. It was noted that there had still been some involvement with the lottery fund, possibly due to the Council handling the matter on behalf of the Town Council.

The motion to support the recommendations, having been proposed and seconded, was put to the meeting and upon a vote being taken, was declared CARRIED.

RESOVLED – that Executive:
 

A)    Considered and noted the net revenue budget end of year projected overspend of £509k.

B)    Accepted the additional Heritage Lottery capital fund grant of £238k for Hertford Castle Greenspace renewal and this additional resource was to be reflected in the capital programme.
 

C)    Considered and noted the capital programme forecast outturn underspend of £722k.

The Service Manager (Strategic Finance), introduced the report which presented the forecast outturn position for 2026/27 as at Quarter 2.

The Chair thanked The Service Manager (Strategic Finance) for the report.

The Committee sought clarification if the reduction in debtors was due to write-offs, and if the current forecasted spend on the Customer Relationship Management System (CRM) was still required considering Local Government Reorganisation (LGR).

The Committee heard that there had been no debts written off in the quarter and that the CRM (under the Transformation Programme) was a focus which was reviewed monthly by Leadership Team, so it remained aligned.

It was moved by Councillor Nicholls and seconded by Councillor Dunlop that that the recommendations, as detailed, be approved.

After being put to the meeting and a vote taken, this motion was declared CARRIED.

RESOLVED – that (A) the Note and consider the net revenue budget end of year projected overspend of £509k be noted and considered;

(B) the additional Heritage Lottery capital fund grant of £238k for Hertford Castle Greenspace renewal and reflect this additional resource in the capital programme, and;

(C) the capital programme forecast outturn underspend of £722k be noted and considered.