Issue - meetings

Report of Cabinet Member for Finance and Assets

RESOLVED THAT:

-       the contents of the report are noted, including the key projected variances to the general fund and Housing Revenue Account (“HRA”) 2024/25 revenue and capital budgets approved by council on 23 February 2024 and the actions to ensure overspends are reduced as far as possible by the end of the financial year. 

In introducing her report, the Cabinet Member for Finance and Assets said that the council is in a difficult place, needing to protect the range of services provided while attempting to close the big financial gap.  She said decades of good decisions have put CBC in a better position than many other councils, and we are still able to deliver an impressive range of discretionary services which residents need and deserve, but her job over the next few months will be to work out how to continue to deliver and balance the budget, particularly on housing and climate change, in the current unstable financial climate.  Tough choices will be needed but the alternative is unthinkable.  She looks forward to opening the consultation process soon.

The Cabinet Member for Economic Development, Wellbeing and Culture commended the Cabinet Member for Finance and Assets on her realistic but optimistic approach, and endorsed the report.

The Cabinet Member for Major Developments and Housing Delivery said this is a key document in the budgetary cycle, and was confident that despite the many challenges, the Cabinet Member for Finance and Assets will bring forward a balanced budget and Cheltenham will weather the story.

The Cabinet Member for Housing and Customer Services thanked the Cabinet Member for Finance and Assets for confirming CBC’s commitment to help vulnerable residents, and echoed earlier comments that, unlike many councils around the country, CBC continues to manage its finances well to support the people we serve.  She thanked officers and Members for their years of good management.

The Leader reiterated that councils face a huge challenge in having to consult on their budgets before they know what has been allocated to them by the government.  She said it is remarkable that CBC continues to be able to afford so many discretionary services, through innovation and hard work from committed officers and Members.

RESOLVED THAT:

-       the contents of the report are noted, including the key projected variances to the general fund and Housing Revenue Account (“HRA”) 2024/25 revenue and capital budgets approved by council on 23 February 2024 and the actions to ensure overspends are reduced as far as possible by the end of the financial year.