Agenda and decisions

Members are asked to declare any interests in the items under consideration and in doing so state:

(1) the type of interest concerned either a

(a)   personal interest

(b)   prejudicial interest

(c)    disclosable pecuniary interest (DPI)

and

(2) the nature of the interest concerned

If any member requires advice on declarations of interests, they are advised to contact the Head of Democratic Governance in advance of the meeting.

To report the level of spending and exposure against the Council’s Revenue budgets and reserves and balances for the first 9 months to 31 December 2023.  The report also includes an update on the Medium Term Financial Plan 2024/25 – 2026/27.

The Executive agreed the recommendations as outlined above namely:

1.      To note the report.  

2.      To require the respective directors, Chief Executive and Director of Resources to continue to closely monitor and manage service financial and operational performances, specifically the social care services, Growth and Prosperity and Community and Environmental Services.

3.      To prompt the Scrutiny Leadership Board to continue to independently review the financial and operational performances of Council services.

4.      To continue to lobby central government (Department for Levelling Up, Housing and Communities, Department for Health and Social Care and Department for Education in particular) along with local authority peers and networks and the Local Government Association for the funding necessary to cope with the burdens and demands presenting as a result of exceptional inflationary pressures and demographic demands upon statutory services.

5.      To continue to work towards target working balances of £6m by 31 March 2024 rising to £8m by 31 March 2025.

To consider recommending to the Council the level of rents and service charges to be charged in connection with Housing Revenue Account dwellings during 2024/25.

The Executive resolved to recommend to Council as follows:

1. That the 2024/25 Housing Revenue Account budget as set out in Appendix 3a, to the Executive report, is approved.

2. That rents for all Housing Revenue account properties are increased by 7.7% in 2024/25 to maintain the health and future viability of the Housing Revenue Account in line with official guidance.

3. That the minimum level of Housing Revenue Account balances remain protected at £1 million, as previously agreed.

4. That Housing Revenue Account service charges (as detailed in Appendix 3b, to the Executive report) and that other General Fund service charges (as detailed in Appendix 3c, to the Executive report) are charged as outlined.

To recommend to Council to determine the overall level of net expenditure to be included in the General Fund Revenue Budget for 2024/25, to identify a budget savings plan that will ensure a balanced budget in-year incorporating an agreed level of Council Tax, to outline the proposals for the use of the Dedicated Schools Grant and the allocation of schools funding for 2024/25.

The Executive resolved as follows:

1.      To recommend to Council a level of budget savings of £422,000 from Housing Company recharges and review of company overheads for Blackpool Coastal Housing Company and Blackpool Housing Company Limited (ref. paragraph 10.1 and Appendix 4b to the Executive report). 

2.      To recommend to Council a level of budget savings of £1.578 million made up by £427,000 for new rent at the Tram Depot from Blackpool Transport Services Limited; £500,000 from improved performance from the Sandcastle Waterpark and Winter Gardens; £500,000 from an Enveco dividend and £151,000 from a rent increase from the Sandcastle Waterpark.

3.      To recommend to Council a level of budget savings of £14.3m (£16.3m including those approved at 1 and 2 above) (ref. paragraphs 10.1 and Appendix 4b) incorporating a Council Tax increase of 4.99% made up of 2.99% plus a 2% Adult Social Care precept.

4.      To recommend to Council the level of net expenditure for the draft General Fund Revenue Budget 2024/25 of £194,762,000 (ref. paragraph 9.2 and Appendix 4a, to the Executive report).

5.      To note that the precepts for Police and Fire will be reported to Full Council on 21 February 2024 as the rates are not agreed until 19 February 2024 and week commencing the 19 February 2024 respectively.

6.      To recommend to Council that the Chief Executive be authorised to take any necessary steps to ensure any staffing savings are achieved (ref. paragraph 11.1).

7.      To recommend to Council the proposed use of the Dedicated Schools Grant Budget for 2024/25 (ref. paragraph 7.9 and Appendix 4c to the Executive report).

8.      To recommend to Council the allocation of schools funding for 2024/25 (ref. paragraph 7.9 and Appendix 4c to the Executive report).

9.      To recommend to Council a target level of working balances of £8m by 31 March 2025 (ref. paragraph 13.5)

10.  To recommend to Council that due regard is given to the robustness of the estimates and the adequacy of reserves in the budget proposals for 2024/25 (ref. section 13)

11.  To agree to consider any further facts, information and stakeholder feedback which may emerge and report the details to the meeting of the Council on 21 February 2024.

To consider recommending to Council the Capital Strategy for 2024/24 to 2026/27 and its complimentary document the Property Investment Strategy for 2024/25

The Executive resolved as follows:

1. To recommend to the Council to approve the Capital Strategy 2024/25 to 2026/27 attached at Appendix 5a, to the Executive report.

2. To recommend to the Council to approve the Property Investment Strategy for 2024/25 attached at Appendix 5b, to the Executive report.

To consider recommending to Council the 2024/25, 2025/26 and 2026/27 Capital Programmes.

The Executive resolved to recommend Council as follows:

1. To approve the Capital Programme for 2024/25 and exemplifications for 2025/26 and 2026/27 as set out at Appendix 6a, to the Executive report

2. To agree that Executive approvals will continue to be required for all prudential borrowing schemes (reference paragraph 6.10).

3. To agree to continue with the Single Capital Pot approach as outlined in Section 6 with a top slice of 12.5% to allow for investment in key priority areas and overspends that are not otherwise fundable (reference paragraph 6.11).

4. To approve the Capital Prudential Indicators as identified in Appendix 6b, to the Executive report.

To consider and recommend to Council the Treasury Management Strategy 2024/25.

The Executive resolved to recommend to Council as follows:

1. To approve the Treasury Management Strategy 2024/25 including both the Borrowing and Investment Strategies which are set out in Appendix 7c and Appendix 7d to the Executive report.

2. To adopt the Treasury Management Policy Statement, three key principles and four clauses taken from the Treasury Management in the Public Services Code of Practice and Cross-Sectoral Guidance Notes (2021 Edition) and set out in Appendix 7b to the Executive report.

3. To approve the revised Prudential Indicators and Limits for 2023/24 and the new Prudential Indicators and Limits for 2024/2025 - 2026/27 which are set out in Appendix 7e to the Executive report.

4. To approve the Minimum Revenue Provision Policy Statement for 2024/25, which will ensure a prudent Minimum Revenue Provision charge in the annual statement of accounts. The policy is set out within Appendix 7f to the Executive report.

To seek approval for the increased budget for the development of The Meadow site at Highfurlong School to accommodate a two-storey extension and associated facilities, to ensure sufficient local provision for children and young people with special educational needs and disabilities (SEND).

The Executive resolved as follows:

1. To agree that Appendix 8a to the Executive report, is not for publication by virtue of Paragraph 3 of Part 1 of Schedule 12A of the Local Government Act 1972 as it includes detailed costings that enable the scheme to be viable. The publication of such information could prejudice continuing and future negotiations.

2. To approve the overall project budget of £8,010,979.25 million for phase one and two of this scheme (£6,020,979.25 for phase one and £1,990,000 for phase two). The below approvals have previously been granted:

-           £4.8m previously approved via EX48/2022 on 5 December 2022 [phase 1].

-           £1.99m previously approved via EX48/2023 on 12 December 2023 [phase 2].

As a result, an uplift to the budget is required of £1,220,979.25.

The uplifted costs will be funded by the funds made available through the Safety Valve agreement between Blackpool Council and the Department for Education previously approved via Executive Decision EX4/2023 on 23 January 2023.