Agenda and draft minutes

Budget Scrutiny. This meeting will be held virtually via Zoom and streamed live. The link for this can be found by clicking on the meeting date, Joint Performance Monitoring Panel and Policy Development Panel - Thursday, 21st January, 2021 6.30 pm

Venue: This will be a meeting held in line with the Local Authorities & Police & Crime Panels (Coronavirus) (Flexibility of Local Authority & Police & Crime Panel Meetings) (England & Wales) Regulations 2020

Contact: Democratic Services  01775 764626

Link: View Facebook Livestream of the meeting

Items
No. Item

7.

Election of Chairman

Minutes:

Councillor B Alcock was elected as Chairman for the duration of this meeting.

8.

Apologies for absence

Minutes:

There were none.

9.

Declaration of Interests

Where a Councillor has a Disclosable Pecuniary Interest the Councillor must declare the interest to the meeting and leave the meeting without participating in any discussion or making a statement on the item, except where a councillor is permitted to remain as a result of a grant of dispensation.

Minutes:

There were none.

10.

Draft Budget, Medium Term Plan and Capital Strategy (Scrutiny) pdf icon PDF 355 KB

To consider the Draft General Fund and Housing Revenue Account 2021/22 revenue and capital estimates and the Draft Financial Medium Term Strategy (for Scrutiny) (report of the Portfolio Holder for Finance, Strategies & Partnerships and the Executive Director – Commercialisation (S151) enclosed)

Additional documents:

Minutes:

Consideration was given to the report of the Portfolio Holder for Finance and the Executive Director Commercialisation (S151) which asked the Joint Panel to consider and scrutinise the Draft General Fund and Housing Revenue Account 2021/22 revenue and capital estimates and the Draft Financial Medium Term Strategy.

 

The Joint Panel received a presentation from the Strategic Finance and Compliance Manager which outlined the following areas:

 

·         Medium Term Financial Plan (MTFP)

·         General Fund Revenue & Capital

·         Council Tax levels

·         HRA Revenue & Capital

·         Reserves

 

The Joint Panel were informed that the Treasury Management Policy was considered outside of the report by the Governance and Audit Committee on 14th January 2021 and would be presented to Cabinet as part of the final Budget paper.

 

Following consideration of the report and the presentation, the following issues were raised:

 

o   Members highlighted the risks and uncertainties around whether the powers stations were rated or un-rated, and whether one of them would be coming on stream to pay business rates. The Strategic Finance and Compliance Manager informed the Panel that the uncertainty was around the Long Sutton power station and what the future operating of the station would be.  Conversations were being held with the Administrators.

 

o   Members asked, for the interest payments of the loan given by the Government to purchase council housing stock, and what percentage of the Housing Revenue Account expenditure that represented for 2021/22?  The Strategic Finance and Compliance Manager confirmed that the interest on the Housing Revenue expenditure was £2,348,000 and the proportion it represented for 2021/22 was 19%.

 

o   Was the Sutton Bridge power station currently paying business rates? The Strategic Finance and Compliance Manager would refer back to the team and inform the Panel after the meeting.

 

o   Was the new Spalding power station paying business rates?  The power station extension had now been added to the rating list and backdated to July 2019. The team were in the process of administering Business Rate bills.

 

o   Members asked, with regards to the Capital Programme, were the amounts allocated to Assets and Property (Priory Road projects) necessary?  The Capital programme items were being reviewed.  Some work e.g air conditioning installation was being carried out while other projects were currently being assessed. 

 

o   Members enquired why the Moulton Park project had not been added to the Budget? The Interim Director informed the Panel that Moulton Park was not currently at a position to be added into the budget and a workable, sustainable solution was being looked at with Moulton Park being a self-funded asset at no cost to the public purse.

 

o   Members asked why the £7k roofs budget for the Industrial units at Sutton Bridge had been removed from the Capital budget?  The Strategic Finance and Compliance Manager stated that £100k was approved for this in the previous year which was still committed to the scheme, with £7k listed for 2020/21 and £93k for 2021/22.

 

o   Was a reduction anticipated in the funding provided by the Government?  The Strategic Finance  ...  view the full minutes text for item 10.

11.

Any other items which the Chairman decides are urgent

Minutes:

There were none.