Agenda item

To consider the report of the Director of Finance (copy enclosed).

The Committee considered the report of the Director of Finance providing an updated financial position for the period ended 30 November 2025 (Period 8). Members noted that this was not the standard quarterly update but helped to provide background information regarding planning for future years budgets.

The report provided an update on a number of areas including the following:

·                Revenue Budget Monitoring (Period 8), including the underspend against the 2025 / 26 budget. Appendix 1 to the report provided further detail of this and surplus arising from increased interest income and better receipts from planning activities, along with offset additional unbudgeted costs in IT ensuring that systems were sufficiently maintained.

·                Capital budget monitoring (Period 8), including the underspend projected against the revised 2025 / 26 Capital Programme. Appendix 2 to the report provided details of the main projects. A list of projects completed within planned timescale and budgets were set out in the report.

·                General Fund Debtors – Table 1 to the report outlined outstanding debt for general fund activities at as 30 November 2025.

·                Reserves – Appendix 3 to the report detailed the movements on Reserves for 2025 / 26.

·                Revenue Budget Reconciliation – Appendix 4 to the report provided detail of the revenue budget reconciliation between the opening and closing budget.

The Chairperson moved the recommendations as set out in the report. This was duly seconded.

In response to questions raised, the Director of Finance agreed to provide Members with the following information outside of the meeting:

·                details of the funding for the capital budget schemes set out in paragraph 3.4.3 of the report;

·                any additional funding committed in previous years for the amphitheatre at Promenade Park, Maldon. It was noted that the monies set out in the table at paragraph 3.4.3 of the report related to the current year. Councillor R H Siddall advised that the monies detailed were an addition £79,000 for this year with the majority of monies within the 2024 / 25 financial year.

·                that the exact process for a Section 106 agreement could be varied by agreement and by Council. The Director of Finance was working with Director colleagues to ensure that there was clarity on how this work was being done and he confirmed he had confidence in the process of collecting. Any improvements identified would be taken forward. He agreed to keep Members informed of the progress of this work. The Director of Place, Planning and Growth explained that it was normal to have different S106 triggers throughout a development and these would be used to mitigate the impact on infrastructure for each development.

·                the difference between vet inspections and vet inspection as set out in table 1 to the report.

The Chairperson put the recommendations set out in the report and upon a vote being taken these were duly agreed.

RESOLVED

That the Committee:

(i)             notes that the forecast revenue outturn as at 30 November 2025 is £104k under budget (0.7%) against the net service budget of £13,874k. (Further information can be found at Appendix 1 to the report along with reasons for significant variances);

(ii)            considered the forecast capital outturn as at 30 November 2025 which was for a total capital programme delivery of £5.656m against revised budget of £6.980m. Noting the schemes completed in the year so far and that further information can be found at Appendix 2 to the report along with reasons for significant variances;

(iii)           approves the movements in Earmarked Reserves set out in Appendix 3 to the report;

(iv)           notes the revenue budget reconciliation between the opening and current budget in Appendix 4 to the report.