Issue - decisions
Financial Performance Report – 2023/24 Quarter Three
08/03/2024 - Financial Performance Report – 2023/24 Quarter Three
Councillor Alaric Smith, Executive Member for Finance, introduced the report, which detailed the Council’s financial performance for Quarter Three 2023-2024.
The Executive Member stated that the Executive had received a recommendation from the Overview and Scrutiny Committee, requesting that the Chair of the Overview and Scrutiny Committee be included as a consultee in the delegation to the Director of Finance, to review and repurpose earmarked reserves, in addition to the Executive Member for Finance.
The Executive Member stated that the Executive had decided not to accept the recommendation, highlighting that the additional consultation of the Chair of Overview and Scrutiny Committee would blur Executive and non-Executive responsibilities and would therefore not be appropriate.
The Executive Member reminded Members and Officers that Delegation to the Director of Finance in consultation with the Executive Member of Finance, is proper in terms of governance, adding that any decisions taken by officers would be notified to Members and any key decisions taken by officers would be subject to call in by Members.
Councillor Alaric Smith proposed that the Executive agree to the recommendations as listed on the report. This was seconded by Councillor Andy Graham, was put to a vote, and was unanimously agreed by the Executive.
The Executive Resolved to:
- Note the Council’s Financial Performance for Quarter Three 2023-2024;
- Delegate authority to the Director of Finance, in consultation with the Executive Member for Finance, to review and repurpose earmarked reserves to mitigate against the four main financial risks identified in the original report.