Issue - meetings

A report from the Councillor Gold, Cabinet Member for Finance and Communities is attached.

· The Council’s Budget 2023/24 and the Medium Term Financial Strategy 2023/24 - 2026/27 (Appendix 4 attached)

· The Dedicated Schools Grant and setting the Schools Budget 2023- 24

· Capital Strategy and Capital programme 2023/24

· Flexible use of Capital Receipts Strategy 2023/24

· Treasury Management Strategy and Prudential Indicators 2023/24

Councillor Gold, Cabinet Member for Communities and Finance provided an overview of the budget reports, there comprised of:

·         The Council’s Budget 2023/24 and the Medium-Term Financial Strategy 2023/24 - 2026/27 (Appendix 4 attached)

·         The Dedicated Schools Grant and setting the schools Budget 2023- 24

·         Capital Strategy and Capital programme 2023/24

·         Flexible use of Capital Receipts Strategy 2023/24

·         Treasury Management Strategy and Prudential Indicators 2023/24

Councillor Gold advised members the budget is set amongst the backdrop of the economic crisis, the war in Ukraine, rising energy costs, rising interest rates, rising inflation and also the local context of the Children’s Improvement journey and workforce shortages, particularly social workers. The funding settlement did result in a welcome increase in grants over and above those previously anticipated, but these are nonrecurrent. The proposal is to approve an increase in Council Tax of 2.99% in terms of General Council Tax and a further 2% for the Adult Social Care Precept in each of the 2023/24 and 2024/25 financial years.

Spending pressures identified within the budget reports are:

·         £1million for utilities

·         £1million per annum for 2 years to fund the children’s safeguarding

model

Councillor Gold, Cabinet Member for Communities and Finance opened to questions from Committee Members.

·         Cllr Boles questioned about the increase in Education Health and Care Plans and stated we have more people than ever before with them, he asked if this a concern for future overspend and what reassurances do we have that these monies provided to schools are spent effectively.

Jeanette Richards, Executive Director of Children and Young People advised it is ensuring need for children is appropriately met and EHC plans are a vehicle to ensuring this. Bury has seen growth in the number of children who require an EHC Plan. Bury has strengthened the support before EHC Plans to support children and families and supporting schools. In addition, once a child does have a plan it is about ensuring it is robust and scrutiny to check the planned support does yield better outcomes for the child. There is also multi agency audits of Education Health and Care Plans.

·         Councillor Lancaster questioned the Councillors Discretionary Budget

Committee Members were advised it is not in the budget.

·         Councillor Lancaster questioned if consideration to selling the Restaurant in Lytham St Annes has been given.

Paul Lakin, Executive Director of Place advised the property has been re-let, and there are tenants in the building, there are several properties that were acquires simultaneously several years ago and they are continually monitored.

·         Councillor Moss asked for assurances about the use reserves

In response Sam Evans Executive Director of Finance advised she has undertaken a piece of work this year looking at all of the reserves and this will be completed as part of the year end process, we will have the amount of reserves to smooth but we are not in a position to not use any further so we will be looking to replenish reserves in future

·         Councillor Walsh asked about the reduction in  ...  view the full minutes text for item 9