Issue - meetings

(a)      note the cash position that has been achieved for the General Fund and HRA to the end of Quarter 2 as detailed in Appendix 1;

(b)      note the Common Good financial performance to the end of Quarter 2 as detailed in Appendix 3;

(c)      note that the General Fund full year forecast position remains on track to achieve a full year outturn of ‘on budget’ although there are a range of financial risks that exist for the financial year. Continuing action and controls, as outlined in Appendix 2 will remain in place for the remainder of the financial year;

(d)      note that the Council maintains financial resilience with the resources available on the Council Balance Sheet, the General Fund Reserves in particular. As at 31 March 2024 the uncommitted value of those reserves was £12m, the minimum that the Council Reserves Statement recommends and as approved by the Council;

(e)      note that the HRA full year forecast position, as detailed in Appendix 2, is forecasting a deficit of £3.1m at this time and continues to face challenging cost pressures as outlined in Appendix 2 and the HRA Budget Report 2024/25;

(f)       note that the Council relies on the Integration Joint Board (IJB) achieving a balanced budget, and that the IJB retains reserves to mitigate unplanned additional costs arising during the year. However, there remains a high risk that if there is an overspend at the end of the financial year the Council may have to fund a portion of that deficit; and

(g)      note that the forecast for General Fund Capital budget has been updated to include agreed adjustments and carry forwards from 2023/24. Housing Capital expenditure is currently forecast to be on budget for 2024/25.

The Committee had before it a report by the Director of Corporate Services which provided the financial position of the Council as at Quarter 2 (30 September 2024) and the full year forecast position for the financial year 2024/25, including:-

·               General Fund and Housing Revenue Account (HRA) and capital accounts; and associated Balance Sheet; and

·               Common Good revenue account and Balance Sheet

The report recommended:-

that the Committee –

(a)      note the cash position that has been achieved for the General Fund and HRA to the end of Quarter 2 as detailed in Appendix 1;

(b)      note the Common Good financial performance to the end of Quarter 2 as detailed in Appendix 3;

(c)      note that the General Fund full year forecast position remains on track to achieve a full year outturn of ‘on budget’ although there are a range of financial risks that exist for the financial year. Continuing action and controls, as outlined in Appendix 2 will remain in place for the remainder of the financial year;

(d)      note that the Council maintains financial resilience with the resources available on the Council Balance Sheet, the General Fund Reserves in particular. As at 31 March 2024 the uncommitted value of those reserves was £12m, the minimum that the Council Reserves Statement recommends and as approved by the Council;

(e)      note that the HRA full year forecast position, as detailed in Appendix 2, is forecasting a deficit of £3.1m at this time and continues to face challenging cost pressures as outlined in Appendix 2 and the HRA Budget Report 2024/25;

(f)       note that the Council relies on the Integration Joint Board (IJB) achieving a balanced budget, and that the IJB retains reserves to mitigate unplanned additional costs arising during the year. However, there remains a high risk that if there is an overspend at the end of the financial year the Council may have to fund a portion of that deficit; and

(g)      note that the forecast for General Fund Capital budget has been updated to include agreed adjustments and carry forwards from 2023/24. Housing Capital expenditure is currently forecast to be on budget for 2024/25.

The Convener, seconded by the Vice Convener, moved:-

that the Committee approve the recommendations contained within the report.

Councillor Malik, seconded by Councillor Watson, moved as an amendment:-

that the Committee –

(1)       note the recommendations contained within the report, noting all recommendations contained therein are noting recommendations with no substantial decisions being asked for;

(2)       commend the Chancellor of the Exchequer’s budget which will provide an extra £3.4 billion pounds to Scotland;

(3)       agree that the SNP Scottish Government must use that huge uplift delivered by a Labour Government to ensure local authorities like Aberdeen City are not strangled by austerity cuts imposed by the SNP;

(4)       agree that the Labour budget signifies the end of austerity, although austerity measures could still remain in Scotland if the SNP Scottish Government does not invest in public services with the financial bonanza provided to them  ...  view the full minutes text for item 8