Item 14 - Corporate Services Revenue - Budgetary Control Report to 31 August 2024 (Period 5)
West Dunbartonshire Council · 6 November 2024
Back to Corporate Services Committee — 6 November 2024 and its agenda
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WEST DUNBARTONSHIRE COUNCIL Report by the Chief Officer - Resources Corporate Services Committee – 6 November 2024 Subject: Corporate Services Revenue - Budgetary Control Report to 31 August 2024 (Period 5) 1. Purpose 1.1 The purpose of this report is to advise the Committee on the performance of the Corporate Services budget for the period to 31 August 2024. 2. Recommendations 2.1 Members are asked to: i) Note that the revenue account currently shows a projected annual adverse variance of £0.109m (0.30% of the total budget). 3. Background 3.1 Revenue Budget At the meeting of West Dunbartonshire Council on 6 March 2024, Members agreed the revenue estimates for 2024/25. A total net budget of £38.161m was approved for services under the remit for Corporate Services at that time. Since the budget changes to the value of -£2.296m have occurred, the details of these are as follows: Description £m Budget Agreed March 2024 38.161 Removal of recharges to Central Support Allocation 0.141 Reduction in budgets in relation to Pension Fund reduced costs -2.807 Increase in Leisure Trust Management Fee Budget 0.370 35.865 The budget has been reduced to reflect the decrease in Strathclyde pension fund contributions in the year. This budget has been vired to a central reserve to be used to balance the budget over the next four years as agreed at the Council meeting on 6 March 2024. ITEM 14
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The Leisure Trust Management Fee budget has been increased to reflect the 24-25 pay award as the budget set on 6th March 2024 was understated and did not fully cover the anticipated cost. 4. Main Issues Revenue Budget 4.1 The summary report at Appendix 1 identifies a projected annual adverse variance (overspend) of £0.109m, however after taking into account £0.336m of earmarked reserves available the underlying favourable variance is £0.227m (0.63%). Detailed service reports are attached as Appendix 2. 4.2 There are twelve projected annual variances in excess of £0.050m. Notes on these variances are highlighted and noted within Appendix 3, with additional information on action being taken to minimise or mitigate overspends where possible. 4.3 Although the report indicates that underlying expenditure is favourable in comparison to that anticipated during the budget exercise, the present variance should be viewed in the knowledge that there are a number of variable factors which could arise before 31 March 2025 and which could affect the year end results. 4.4 Appendix 4 to the report summarises the current position against the saving options agreed by council as part of setting the 2024/25 budget 5. People Implications 5.1 There are no people implications. 6. Financial and Procurement Implications 6.1 Other than the financial position noted above, there are no financial or procurement implications from this budgetary control report. 7. Risk Analysis 7.1 The main financial risks to the ongoing financial position relate to unforeseen costs being identified between now and the end of the financial year. This can affect all service areas 8. Equalities Impact Assessment (EIA) 8.1 No equalities impact assessment was required in relation to this report. 9. Consultation
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9.1 All services involved in delivering the revenue and capital budgets have been consulted in the compilation of this report. 10. Strategic Assessment 10.1 Proper budgetary control and sound financial practice are cornerstones of good governance and support Council and officers to pursue the 5 strategic priorities of the Council’s Strategic Plan. This report forms part of the financial governance of the Council. Laurence Slavin Chief Officer Resources Date: 14 October 2024 Person to Contact: Adrian Gray, Finance Business Partner Council Offices, 16 Church Street, Dumbarton Telephone: (01389) 737838 E-mail: adrian.gray@west-dunbarton.gov.uk Appendices: Appendix 1 - Revenue Budgetary Control 2024/25 – Summary Report Appendix 2 - Revenue Budgetary Control 2024/25 – Service Reports Appendix 3 - Analysis of Revenue Variances over £50,000 Appendix 4 - Monitoring of Savings Options Background Papers: Ledger output – Period 05 General Services Revenue Estimates 2024/25 – Council 6 March 2024 Wards Affected All Wards