Issue - meetings

Recommendations:

That the Executive

a.       notes the forecast outturn position against the 2024/25 Revenue Budget, as summarised in paragraph 2.2.1.

b.       approve a £1,060k reduction to the HRA rental income budget in 24/25 and the resulting impact on the HRA business plan which will be reflected in the next refresh of the business plan as set out in paragraph 2.3.1.

c.       delegate authority to the Corporate Director of Resources in consultation with the Chief Executive, Deputy Leader and Leader to award the contract and approve funds from the LGR Reserve for one-off external and internal implementation and associated costs of the new finance system, following conclusion of the procurement process at the end of August 2024 (paragraph 2.5.2).

d.       notes the position on the Council’s Treasury Management activities during the first quarter of 2024/25.

e.       refers this report to the Audit Committee for their consideration as part of the overall monitoring arrangements for Treasury Management.

f.        Approve the refreshed Capital Plan summarised at paragraph 4.2.3;

g.       Agree delegation to Corporate Director Resources, in consultation with the Assistant Chief Executive Legal and Democratic Services and the Executive Member, Finance to draw down on the totality of the Capital Supply Chain Reserve to fund some potential cost overruns on existing capital schemes with the detail included in confidential Appendix E (paragraph 4.3.2);

h.       Approve the addition of £350k to undertake a feasibility study into the proposed redevelopment of the Brunswick Centre in Scarborough from retail to leisure led with a drawdown of up to £350k from the Strategic Capacity Reserve. (paragraph 4.4.1).