Issue - meetings

Members gave consideration to the final report of the evening, setting out the details of the Committee’s draft revenue budget for the period of 2024/2025 and estimates to 2028/2029, introduced by the Section 151 Officer.

Members heard summarised that after taking a robust approach to the estimations within the budget for this Committee, the total cost of services for 2024/2025 would be £5.431m (£5.612m 2023/2024). This had resulted in base budget increases in expenditure of £1.974m, and additional income of £2.155m, resulting in a net base budget decrease of £0.181m.

There were £0.395m of expenditure budgets which were funded from Earmarked Reserves to support one off project resources in 2024/2025 (£0.827m in 2023/2024). This was a decrease of £0.432m from 2023/2024 to 2024/2025.

Services within this Committee had also contributed to Earmarked Reserves £0.104m in 2024/2025 for asset replacement programmes (£0.104m in 2023/2024).

Excluding the use of earmarked reserves, there was an increase of £0.251m on the base budgets for this Committee. The proposed budgets within the report were included in the overall balanced position for 2024/2025, the budget gap being funded from Reserves.

Members of the Committee thanked the Section 151 Officer for her summary. It was enquired whether the leased sports equipment was or would be owned by the Council, and a Member of the Committee asked whether the Wellbeing Lincs partnership contract was to be renewed. In response to these queries, it was confirmed that the equipment would be owned by the Council at the end of the lease, and there was a procurement process underway regarding the Wellbeing Lincs contract.

Members expressed their contentment with the contents of the report and, having been proposed, seconded and voted upon, it was unanimously

RESOLVED that the Prosperous Communities Budget 2024/2025 and revenue estimates to 2028/2029 be RECOMMENDED to the Corporate Policy and Resources Committee for the purpose of budget setting 2024/2025 and for inclusion in the Budget and Medium-Term Financial Plan 2024/2025 to 2028/2029 (as amended by any decisions taken on this agenda).