Agenda and minutes
- Attendance details
- Agenda frontsheet PDF 553 KB
- Agenda reports pack
- Item 9 Appendix E PDF 1 MB
- Minute Extract from S&R committee Performance and Financial Management Quarter 3 of 2022/23 PDF 797 KB
- Minute Extract from S&R committee Review of Fees and Charges 2023/24 PDF 599 KB
- Minute extract from S&R committee Revenue Budget 2023/24, Capital Programme and Medium Term Financial Strategy 2023/24-2028/29 Item 8 PDF 798 KB
- Minute Extract from S&R Committee Treasury management Strategy Statement 2023/24 Item 9 PDF 593 KB
- Minute Extract from S&R committee 10 Year Capital Strategy 2023-2033 Item 10 PDF 462 KB
- Printed minutes PDF 471 KB
Venue: Barum Room - Brynsworthy. View directions
Contact: Corporate and Community Services 01271 388253
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Apologies Minutes: Apologies for absence were received from Councillors Campbell, Hunt, Mackie and Roome. |
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(a) Minutes of the meeting held on 8th December 2022 (attached). (b) Minutes of the meeting held on 5th January 2023 (attached). Additional documents: Minutes: RESOLVED, that the minutes of the meetings held on 8th December 2022 and 5th January 2023 (circulated previously) be approved as correct records and signed by the Chair. |
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Declarations of Interest. (Please telephone the Corporate and Community Services team to prepare a form for your signature before the meeting. Interests must be re-declared when the item is called, and Councillors must leave the room if necessary). Minutes: There were no declarations of interest received. |
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Performance and Financial Management Quarter 3 of 2022/23. PDF 513 KB Report by the Director of Resources and Deputy Chief Executive to Strategy and Resources on 6th February 2023 (attached) (Note: Appendix E to the report attached), and
(a) Minute Extract of Strategy and Resources on 6th February 2023 (to follow). Additional documents:
Minutes: The Committee considered a report by the Director of Resources and Deputy Chief Executive (circulated previously) regarding the Performance and Financial Management for Quarter 3 of 2022/23 together with Minute Extract of Strategy and Resources on 6th February 2023 (circulated previously).
The Finance Manager highlighted the following:
· The revenue budget for 2022/23 was approved at Council on 23rd February 2022 at £13,721,640. · As at 31st December 2022, the latest forecast net budget was £13,702,640, which produces a forecast budget surplus of £19,000. Details were shown in “Appendix A – Variations in the Revenue Budget. · The original budget for 2022/23 included a forecast to achieve £250,000 worth of salary vacancy savings. The current position forecasts that the Council would achieve £452,000. The additional £202,000 was due to timings of filling the capacity building posts throughout the year which were approved as part of the original 2022/23 budget. · Temporary Accommodation was under additional cost pressure due to the increase in homelessness cases; the in-year impact of this £250,000 forecast increase in costs had been mitigated by utilising balances from the Homelessness earmarked reserve. Whilst this had alleviated the pressure this year, it did not mean this one-off amount from the homelessness reserve couldn’t be utilised for other homelessness initiatives. · Within the joint Building Control partnership with Mid Devon District Council there had been a decline in income and due to challenges in recruiting to vacant posts, an increase in the use of agency staffing costs which had negatively impacted the trading account. Full Council had recently approved an 8% increase in the Building Control fees, this additional income would cover the additional staffing costs moving forwards and improve our ability to fill vacant posts. The Council was now forecasting a net deficit of £33,000, this included utilising a £50,000 contribution from the Building Control reserve built up through prior year trading surpluses. · The largest variance within Appendix A was the £804,000 National pay award additional staffing costs over and above the £280,000 already built into the base budget; this was based on the offered pay award put forward to the Unions by the National Employers pay review body for the 2022-23 year. The pay award was accepted by the Union and its members and was backdated to 1st April 2022 and paid to staff in December 2022. The pay award was based upon £1,925 per full time equivalent employee. · Other inflationary pressures built into the forecast included additional fuel costs across our fleet of £104,000 and additional energy costs of £63,000. To date the Council had not included any further general supplies and services inflationary increases as it would endeavour to control and manage these in year through the existing budgetary framework. · As at 31st March 2022 the Collection Fund reserve balance was £5,722,000. This earmarked reserve was created to deal with the timing impacts of the Collection Fund (Business Rates), which ensured the revenue budget was not unduly affected in the year the taxes were collected. Collection Fund deficits/surpluses were reversed ... view the full minutes text for item 91. |
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Review of Fees and Charges 2023/24 PDF 325 KB Report by the Director of Resources and Deputy Chief Executive to the Strategy and Resources Committee on 6th February 2023 (to follow), and
(a) Minute Extract of Strategy and Resources on 6th February 2023 (to follow). Additional documents:
Minutes: The Committee considered a report by the Director of Resources and Deputy Chief Executive (circulated previously) regarding the review of Charges and Fees for 2023/24 together with Minute Extract of Strategy and Resources on 6th February 2023.
The Finance Manager highlighted the following:
Ø Up to 2 items £23.00 (27.78% increase). Ø Up to 3 items £31.00 (19.23% increase). Ø Up to 4 items £38.00 (15.15% increase).
· The above increases bring North Devon Council prices in line with neighbouring authorities and allowed for the recommended 5% increase for 2023-24 as detailed at Appendix I. · Full Council approved at its November 2022 meeting to increase the Garden Waste charge for 2023-24 to £55 per bin. A revised costing of providing the service, taking into account current year and estimated inflation ... view the full minutes text for item 92. |
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Order of Agenda Minutes: RESOLVED, that items 9 and 10 on the agenda be considered prior to item 8 when the Director of Resources and Deputy Chief Executive would be present at the meeting. |
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Treasury Management Strategy Statement 2023/24 PDF 1 MB Report by the Chief Financial Officer to Strategy and Resources Committee on 6th February 2023 (attached), and
(a) Minute Extract of Strategy and Resources Committee on 6th February 2023 (to follow). Additional documents:
Minutes: The Committee considered a report by the Director of Resources and Deputy Chief Executive (circulated previously) regarding the Treasury Management Strategy Statement for 2023/24.
The Head of Governance highlighted the following:
· There were no proposed changes to the investment Strategy. · Appendix A of the report updated the Treasury Management Practice adhered to by the Council.
RESOLVED, that the decisions and recommendations of the Strategy and Resources Committee be endorsed.
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10-Year Capital Strategy 2023-2033 PDF 754 KB Report by the Chief Financial Officer to Strategy and Resources on 6th February 2023 (attached), and
(a) Minute Extract of Strategy and Resources on 6th February 2023 (to follow). Additional documents: Minutes:
The Committee considered a report by the Director of Resources and Deputy Chief Executive (circulated previously) regarding the 10 Year Capital Strategy for 2023 to 2033 together with Minute Extract of Strategy and Resources on 6th February 2023.
The Head of Governance outlined the Capital Strategy Years 2023/24 to 2026/27 (Medium Terms), which were detailed in paragraph 4.4 of the report.
He referred to section 4.5 of the report covering the years 2027/28 to 2032/33 and highlighted the following points:
· The CFR was generally on a downward trend from £35m in 2027/28 to £30m by 2032/33. · External borrowing over the longer term remained at a high level, reducing from £26m to £21m over the same period, again assuming the under-borrowed position remained prudent and sustainable. · As a result of the high borrowing, the annual borrowing cost would continue to put pressure on the Council’s revenue budget each year. The projected cost of borrowing, both external and long term liabilities, was set to remain above £3m per annum over the six year forecast period. · The forecast medium term financial strategy budget gap had been extended beyond 2028/29, just to reflect the impact of borrowing costs before any other revenue changes were considered. On this basis, the revenue budget gap for the long term remained at £3.3m. · The strategy showed that the business as normal capital schemes such as the vehicles may present affordability challenges that Members would need to take into account as further capital schemes came forward for investment.
RESOLVED, that the decisions and recommendations of the Strategy and Resources Committee be endorsed.
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Report by the Chief Financial Officer to the Strategy and Resources Committee on 6th February 2023 (attached), and
(a) Minute Extract of Strategy and Resources on 6th February 2023 (to follow). Additional documents:
Minutes: The Committee considered a report by the Director of Resources and Deputy Chief Executive (circulated previously) regarding the Revenue Budget 2023/24, Capital Programme and Medium Term Financial Strategy 2023-24 to 2028-29 together with Minute Extract of Strategy and Resources on 6th February 2022.
The Director of Resources and Deputy Chief Executive highlighted the following:
· Funding levels to Local Authorities from 2012/13 to 2023/24. · Finance Settlement – core spending power of 9.2% and analysis. · As a Shire District the Council’s actual core spending power was on average only at 5%. · The spending power varied according to region and the overall national level of 9.2% equivalent for the South West was 8.8%. · Central Government had run a finance settlement consultation, closed 16 January 2023. Appendix F of the report showed the response our Council had made in relation to this consultation. · The draft budget was assuming an increase of 2.99% on Council Tax. · Retained growth on Business rates of around £2 million. · The challenges to the budget came from reduced grant funding from Government, reduced workforce levels since 2010 and the uncertainty of the future Local Government Funding. · Inflationary pressures on the budget came from increased staff pay, increased energy prices, rising fuel prices and increased costs of external contracts. · There had been two earlier budget workshops with Members and a full report to Council in November 2022 to approve options identified to draft the refreshed Medium Term Financial Strategy. · Bridging the gap in the budget as follows (as detailed in section 4.1.2.14 of the report):
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Work programme 2022-23 PDF 116 KB To consider the work programme 2022-2023 (attached). Minutes: The Committee considered the work programme for February to March 2023 (circulated previously.
The Clerk provided an update regarding the latest position with an approach to South West Water and advised that the Committee would be kept up to date on progress.
RESOLVED, that the work programme be noted. |