Issue - meetings

RESOLVED:

1.    That Cabinet notes the Council’s forecast revenue budget (after the application of the full contingency budget) and capital budget positions for the year.

2.    That Cabinet approves the Empty Homes proposal of £575,933 to Waverley Borough Council relating to 2022, outlined in paragraph 7 – 8.

3.    That Cabinet approves the increase to the Your Fund Surrey small project fund allocation for each individual councillor to £100,000.

Reasons for Decisions:

This report is to comply with the agreed policy of providing a monthly budget monitoring report to Cabinet for approval of any necessary actions.

(The decisions on this item can be called in by the Resources and Performance Select Committee)

The report was introduced by the Cabinet Member for Finance and Resources who explained that at Month 8 the Council was forecasting an overspend of £1.7m against the 2023/24 revenue budget, after the application of the contingency budget. At Month 8, capital expenditure of £267.4m was forecast for 2023/24, a variance of £0.9m less than the re-set budget of £268.3m. The capital pipeline budget included £40m for Your Fund Surrey for 23/24 – 25/26, including an allocation available to each Councillor for the small project fund which enables them to support local small capital projects in their community. It was proposed to increase the allocation to individual councillors from £50,000, to a total of £100,000.  There had also been a submission from Waverley Borough Council for a reimbursement of the Council’s share of the additional council tax raised for specific years from implementing changes to empty homes policies. This was for a total of £575,933.

RESOLVED:

1.    That Cabinet notes the Council’s forecast revenue budget (after the application of the full contingency budget) and capital budget positions for the year.

2.    That Cabinet approves the Empty Homes proposal of £575,933 to Waverley Borough Council relating to 2022, outlined in paragraph 7 – 8.

3.    That Cabinet approves the increase to the Your Fund Surrey small project fund allocation for each individual councillor to £100,000.

Reasons for Decisions:

This report is to comply with the agreed policy of providing a monthly budget monitoring report to Cabinet for approval of any necessary actions.

(The decisions on this item can be called in by the Resources and Performance Select Committee)