Issue - meetings
TCCL Quarter 3 Revenue and Capital Monitoring Budget Report
The Senior Finance Business Partner introduced the report of the Director of Neighbourhood Services which set out the financial monitoring information for the Tourism, Communities, Culture and Leisure Committee as at quarter 3 (1 Oct-31 Dec) of 2022-23. The report provided Members with an overview of budget performance, including progress on the delivery of the 2022-23 saving programme and a summary of reserves to enable the Committee to take ownership of the budgets and provide robust challenge and scrutiny to Officers on the performance of those budgets.
At the end of Quarter 3, there was a forecast adverse position of £3.373m on the Committees net revenue budget, of £5.259m. This position was based on activity to date, projected trends in income and expenditure and potential mitigation to offset areas of adverse variance.
Members discussed the depletion of the earmarked reserves and were given assurance that these were dedicated to specific projects such as the purchase of gym equipment and were not the same as corporate reserves.
In response to a Member query, the Assistant Director – Leisure, Libraries and Customer Engagement reported that the expenditure for 3G pitches at Wirral Tennis Centre and Woodchurch Sports Pavilion had been delayed for the next financial year due to the delay in approval from the local lead flood authority following changes in the scope of the pitches.
Resolved – That
(1) the forecast revenue position presented at Quarter 3 be noted.
(2) the progress on delivery of the 2022-23 savings programme at Quarter 3 be noted.
(3) the forecast level of reserves at Quarter 3 be noted.
(4) the forecast capital position presented at Quarter 3 be noted.