Agenda, decisions and minutes

Finance and Performance Policy Committee - Wednesday 19 June 2024 1.30 pm

Venue: To be held in the Town Hall, Pinstone Street, Sheffield, S1 2HH

Contact: Fiona Martinez, Democratic Services  Email: fiona.martinez@sheffield.gov.uk

Media

Items
No. Item

3.

Apologies for Absence

Additional documents:

Minutes:

3.1

Apologies for absence were received from Councillor Terry Fox, Councillor Abdul Khayum, Councillor Shaffaq Mohammed and Councillor Gareth Slater.

 

 

 

4.

Exclusion of Press and Public

Additional documents:

Minutes:

4.1

No items were identified where resolutions may be moved to exclude the public and press.

 

5.

Declarations of Interest pdf icon PDF 86 KB

Additional documents:

Minutes:

5.1

There were no declarations of interest.

 

6.

Minutes of Previous Meetings pdf icon PDF 67 KB

Additional documents:

Minutes:

6.1

The minutes of the previous meetings held on the 16th April 2024 and the 15th May 2024 were approved as a correct record.

 

7.

Work Programme pdf icon PDF 118 KB

Additional documents:

Minutes:

7.1

 

 

 

 

 

 

 

 

7.2

The Committee received a report containing the Committee’s Work Programme for consideration and discussion. The aim of the Work Programme is to show all known, substantive agenda items for forthcoming meetings of the Committee, to enable this Committee, other Committees, Officers, Partners and the Public to plan their work with and for the Committee. It was highlighted that this is a live document and that Members input into the Work Programme was invaluable.

 

RESOLVED UNANIMOUSLY: That the Finance Committee:-

 

(a)  Approves the Committee’s Work Programme as set out, including any additions and amendments and

(b)  Considers any further issues to be explored by Officers for inclusion in the next work programme report, for potential addition to the work programme

 

8.

Capital Approvals Month 1 (2023/24) pdf icon PDF 150 KB

Additional documents:

Decision:

View the decision text for item 8.

Minutes:

 

8.1     The Committee received a report of the Finance Manager which provided details of proposed changes to the existing Capital Programme as brought forward in Month 1 2024/25.

 

8.2     Officers agreed to provide Members with further information on the UK Shared Prosperity Fund – Low Carbon Capital Scheme.

 

8.3     Officers agreed to provide more information regarding the reduction in budget of the Youth Investment Fund small sites.

 

8.4     RESOLVED UNANIMOUSLY: That the Finance Committee:-

 

1.     Approves the proposed additions and variations to the Capital Programme listed in Appendix 1

2.     approves the budget adjustments required as part of the financial year end close down procedure as detailed in Appendix 2

3.     approves the acceptance of grant funding as identified in Appendix 3

4.     approves the Council entering into agreements to provide funding to 3rd parties as identified in Appendix 4

 

8.5     Reasons for Decision

 

8.5.1   The proposed changes to the Capital Programme will improve the services to the people of Sheffield.

 

8.5.2   To formally record changes to the Capital Programme and gain Member approval for changes in line with Financial Regulations and to reset the capital programme in line with latest information

 

8.6     Alternatives Considered and Rejected

 

8.6.1   A number of alternative courses of action are considered as part of the process undertaken by Officers before decisions are recommended to Members. The recommendations made to Members represent what Officers believe to be the best options available to the Council, in line with Council priorities, given the constraints on funding and the use to which funding is put within the Revenue Budget and the Capital Programme.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

9.

2023/24 Final Out turn Position pdf icon PDF 579 KB

Additional documents:

Decision:

View the decision text for item 9.

Minutes:

9.1

 

 

 

 

 

9.2

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

9.3

The Committee received a report of the Head of Accounting which presented the Council’s final outturn position for 2023/24 including General Fund revenue position, Housing Revenue Account, and Capital Programme Monitoring. The report also provides an update of the Council’s Treasury Management activity and sets expectations for the coming year.

 

 RESOLVED UNANIMOUSLY: That the Finance Committee:-

 

a)    Note the updated information and management actions on the 2023/24 Revenue Budget Outturn as described in this report.

b)    Note the updated information and management actions provided by this report on the Q4 2023/24 Capital Programme Monitoring as described in Appendix 1

c)     Note the Treasury Management report for Q4 2023/24 as described in Appendix 2

d)    Note the Reserves Position statement in Appendix 3

e)    Approve revenue budget carry forward requests for three items:

 

I.                 £277k Local Area Committees

II.               £70k Youth AMBIT training

III.             £899k Adult Social Care provider funding commitments

 

 

Reasons for Decision

 

9.3.1

 

9.4

 

9.4.1

To record formally changes to the Revenue Budget and the Capital Programme.

 

Alternatives Considered and Rejected

 

The Council is required to both set a balance budget and to ensure that in-year income and expenditure are balanced. No other alternatives were considered.