Agenda item

To consider and comment on the proposed Budget for 2024/5. Note appendix Fii to is a restricted report.

Councillor J Philip, Finance and Economic Development Portfolio Holder advised the Committee that 52 acres of land at North Weald Airfield had been sold to Google for the potential development of a new data centre campus. The impact on the budget had not been factored into the report and he reminded members of the Committee that the structural deficit would not be solved by selling assets.

A Small, Section 151 Officer and Corporate Director, provided detail on the budget report and advised the Committee that the views expressed at the joint meeting of Overview and Scrutiny Committee and Cabinet on the 12 December 2023, had been reflected in whole, or in part, in the draft budget presented.   The development of the budget had been challenging and £3.5m of savings had been identified to provide a provisional balanced revenue position.

Cabinet had considered the draft budget proposals for 2024/25 on 18 December 2023, and the full Cabinet report had been provided to the Committee as appendices to the report. This  included the revenue and capital proposals for both the General Fund and Housing Revenue Account, a schedule of suggested Fees and Charges and an updated Medium-Term Financial Plan (MTFP) covering the financial years 2024/25 through to 2028/29.

The Committee

·         welcomed the news and opportunities that the sale of land in North Waled Airfield could bring to the district.

·         agreed on the necessity to have a balanced budget.

·         received confirmation that the housing benefit payment was paid to the Council  directly from central government.

·         raised concerns on the impact across the district of the 25% reduction in annual SLA with EF Citizens Advice and Voluntary Action Epping Forest and suggested as minimum the date of the saving could be reprofiled and delayed.

·         suggested the reduction in the Youth Council project monies, could impact on their success.

·         commented that previous decisions in relation to the instigation of Qualis, the commercial approach to rent review and the development of Epping Forest Shopping Park, had a positive impact on  the current revenue position.

Councillor J Philip, Finance and Economic Development Portfolio Holder acknowledged the comments from the Overview & scrutiny Committee.

Action: A detailed breakdown of ‘other contributions’ in the 2024/25 General Fund Budget Evolution Table would be forwarded to the Committee.

Resolved:

That the Committee provided comments on the draft budget to Cabinet.