Issue - meetings

Report of the Interim Section 151 Officer attached.

The Panel considered a report of the Interim Section 151 Officer which provided an update on the Council’s overall financial position at the end of Quarter 3 of the 2019-20 financial year as at the end of December 2019.

Councillor Matthew Tomlinson, Cabinet Member for Finance, Property and Assets, informed the Panel that an underspend of £272,000 was forecasted for the end of the financial year and that significant work had been undertaken to reduce this forecasted figure over the last quarters.

In response to a query regarding the forecasted staffing underspend, members were assured that the Council was actively trying to fill vacancies and that there has been an increase in staff recruitment. Slight impact on performance was acknowledged as a result of staff vacancies but improvements were anticipated following the development of shared service arrangements with Chorley Council over the course of 2020.

Members had previously requested a breakdown of the budget by service area and this request was reiterated. Further in-depth information would be circulated to all members of the panel.

Pooling arrangements for business rates were queried and members were informed that the council would remain part of the Lancashire Pool for 2020/21 but that arrangements for the following year had not yet been confirmed.

The borough investment reserve accounted for a significant amount of the forecasted underspend, with £4.55 million earmarked for purchasing investment properties. Members queried the governance procedures for changing the Investment Property Strategy to enable expenditure and were informed that amendments would be subject to the approval of Full Council. There was an intention to amend the Strategy.

A further update on the progress of the Green Links project at Shruggs Wood in Leyland was requested.

The panel thanked the Cabinet Member and the Interim Section 151 Officer for their attendance. 

RESOLVED: (Unanimously)

That

1.    the Scrutiny Budget and Performance Panel welcomes the Budget Monitoring report.

2.    the Scrutiny Budget and Performance Panel receives the revenue budget summary breakdown.

3.    the Scrutiny Budget and Performance Panel looks forward to the future of the Borough Investment Reserve being presented to Full Council.

4.    an update be provided on the Shruggs Wood Green Links project.