NORTH YORKSHIRE COUNCIL

EXECUTIVE

27 MAY 2025

QUARTERLY PERFORMANCE AND BUDGET MONITORING REPORT

Joint Report of the Chief Executive and

Corporate Director – Resources

EXECUTIVE SUMMARY

1.0       Background

1.1       The Quarterly Performance and Budget Monitoring Report seeks to bring together key aspects of the Council performance on a quarterly basis.  The Summary below captures the key points in this Quarterly update as set out in the main body of the attached report.

2.0       Performance

2.1       The quarter 4 performance report covers the period 1^st January 2025 to the 31^st March 2025. Providing a comprehensive picture of performance across North Yorkshire

            In addition, the report also includes the following appendices:  

• Appendix A: Appendix of Key Performance Indicator’s (KPI’s) 

• Appendix B: Progress made on the 2024/25 Council Plan ambitions  

• Appendix C: Proposed Performance Management Framework (PMF)  

• Appendix D: Housing Landlord Services Performance Supplement (This is to support the work of the service with the Regulator for Social Housing. Given the scope and scale of this work a supplementary Landlord Services Performance report has been created as an additional resource to highlight progress and challenges). 

3.0       Revenue Budget 2024/25

3.1       There is an overall net underspend against the 2024/25 budget of £2,590k. As reported throughout the year, there continues to be significant overspends within people related services but these are offset with underspends within all other directorates. A large proportion of these underspends are savings being delivered in advance of budgets being removed in 2025/26 for example the utilities underspend. The underspend is proposed to be transferred to the Capital Supply Chain Reserve (paragraph 2.6.2).

3.2       A breakdown of each Directorates forecast variance is provided in Appendices B to F with the financial position for NYES provided in Appendix G.

3.3       The aggregated position of the HRA is showing a forecasted surplus of £2,306k. Further detail is provided in Appendix H.

3.4       An update on the LGR reserve is detailed in Section 2.5.

3.5 It is recommended that the transfer of uncommitted reserve balances go to Strategic Capacity reserve as detailed in paragraph 2.6.1.

3.6       It is proposed that up to £480k is set aside for the Procurement of a digital EHCP system, as detailed in paragraph 2.5.2.

4.0       Annual Treasury Management and Prudential Indicators

4.1       For North Yorkshire Council External debt stood at £367.1m at 31 March 2025. The average interest rate of this debt was 3.76% (paragraph 3.7).

4.2       Investments outstanding at 31 March 2025 were £637.7m of which £93.1m belonged to other organisations who are part of NYC’s investment pool arrangements. (paragraph 3.42 & Appendix A).

4.3       For cash invested the average interest rate achieved in 2024/25 was 5.13% which above the 7 day benchmark rate of 4.91% and above average bank rate of 4.95%. (paragraph 3.33).

5.0       Capital Plan

5.1       Overall capital expenditure for 2024/25 is £178.6m against a budget of £232.1m – an underspend of £53.5m.  When capital receipts and grants are taken into account, the net position shows an underspend of £8.0m (paragraph 4.3.1).

5.2       A total carry forward of £53.5m worth of schemes (gross) to 2025/26 is required (paragraph 4.4.2).

5.3       Financing of the 2024/25 capital plan is largely through grants, contributions and revenue contributions with the remaining element of £8.7m being funded from internal and external borrowing (paragraph 4.5.1).

5.4       £2.6m is recommended for allocation from the Capital Receipts Unapplied Reserve to fund the Scarborough Station Gateway scheme following the identification of a funding shortfall as a result of unsuccessful funding bids (paragraph 4.3.2).

RICHARD FLINTON Chief Executive County Hall Northallerton 27 May 2025

GARY FIELDING Corporate Director, Resources

Contents

1.0       2024/25 Quarter 3 Performance Commentary

2.0       Revenue Budget 2024-25

3.0       Treasury Management

4.0       Capital Plan

5.0       Legal Implications

6.0       Consultation and Responses

7.0       Conclusions and Recommendations