Agenda and decisions

Executive Summary

This report provides an update on the Council’s financial performance and projected outturn for 2023/24 for the revenue account, capital programme and reserves  statement as at the end of January2024.

As at 31 January 2024, the General Fund projected deficitis

£0.986m for the full year 2023/24. This is after adjusting for all known variations and full year forecasting by service managers.

Options considered

This is an update report on the Council’s financial position and so no other options were considered.

Consultation(s)

Cabinet Member Section 151 officer Budget Managers

Recommendations

It is recommended that Cabinet:

1)    Note the contents of the report and the current forecast year endposition.

2)    Note the actions to take some short term borrowing and to call back some of the investments that are in our pooledfunds.

3)    Approve the use of the Economic Regeneration Reserve as required as proposed in paragraph2.25.

4)    Approve the use of £0.2m of the Treasury Management reserve to cover the overspend as proposed in paragraph2.42.

5)    Note that officers will work together to take action to reduce the overall projected General Fund deficit at the for2023/24.

Reasons for recommendations

To update members on the current budget monitoring position for the Council.

Background papers

\\fs\Accounts\Budget Monitoring\BUDGET MONITORING\2023-24\Period 10\Report and Appendices\Draft Budget Monitoring P10 2023-24 .doc

Wards affected

All

Cabinet member(s)

Cllr Lucy Shires

Contact Officer

Tina Stankley, Tina.stankley@north-norfolk.gov.uk

Links to key documents:

Corporate Plan:

Budgets set to support the Corporate Plan objectives.

Medium Term Financial Strategy (MTFS)

Budget process in line with MTFS

Council Policies & Strategies

Service Budgets set in line with the council policies and strategies.

Is this a key decision

no

Has the public interest

test been applied

Not an exempt item

Details of any previous decision(s) on this matter

N/A

Executive Summary

The Corporate Plan 2023-27 Action Plan 2023-24 is being implemented as planned.

Options considered

Not relevant.

Consultation(s)

The lead officer for each action in the Plan has been asked for their assessment of progress, identify issues and propose action they will take to address those issues.

Recommendations

Cabinet is recommended to note this report.

Reasons for recommendations

The Action Plan 2023-24 is being implemented as planned

Background papers

Corporate Plan 2023-27

Wards affected

All

Cabinet member(s)

Cllr Tim Adams

Contact Officer

Steve Blatch, Chief Executive

Email:- steve.blatch@north-norfolk.gov.uk

Links to key documents:

Corporate Plan:          

This report is concerned with ensuring the Corporate Plan 2023-27 Action Plan 2023/24 is being implemented as planned.

Medium Term Financial Strategy (MTFS)                                

Ensuring the Action Plan 2023/24 is implemented as planned will ensure the MTFS is also achieved.

Council Policies & Strategies

Corporate Plan 2023-27

Corporate Governance:

Is this a key decision 

No

Has the public interest test been applied

Not applicable. Item is not exempt.

Details of any previous decision(s) on this matter

Corporate Plan 2023-27 and Action Plan 2023-24 approved by Full Council on 17 July 2023.

Corporate Plan 2023-27 Action Plan 2024-25 approved by Cabinet 6 November 2023

Executive Summary

‘Investing in Our Local Economy & Infrastructure’ is an important strand of NNDC’s Corporate Plan. The draft Economic Strategy and Action Plan (2023-2027) sets out the approach and actions the Council will undertake to support delivering against this objective and supporting the growth of the local economy over the next four years.

Options considered

There are no options for consideration. The Strategy is recognised as a Key Action for delivery in 2023/24 within the Corporate Plan.

Consultation(s)

The Strategy has been informed by a range of sources and consultations. This has included engagements with businesses, workshops undertaken with the North Norfolk Local Partnership Group (which discussed local challenges and helped inform the focus of the UK Shared Prosperity & Rural England Prosperity Funds), a workshop in October 2023 with Council Members/Officers to discuss local economic challenges, and a presentation to the Corporate Leadership Team. Moreover, the findings of the Strategy and some of the key delivery actions were further shared and ‘tested’ at a business engagement event in January, which also served as a workshop to discuss key issues that would inform the forthcoming Norfolk-wide Economic Strategy that is presently being developed by Norfolk County Council. Furthermore, the Strategy was given ‘pre-scrutiny’ at the Overview & Scrutiny Committee meeting on 14 February 2024 and the advice from this, including a request for a supplementary ‘executive summary’ version of the Strategy, has been noted and will be produced in due course.

Recommendations

It is recommended that:

Cabinet endorse the Economic Strategy & Action Plan and recommend to Full Council its formal adoption.

Reasons for recommendations

Adoption by the Council will serve to illustrate the importance and value that NNDC places on its role in helping to create a vibrant, healthy and sustainable local economy. 

Background papers

2023 – 2027 Corporate Plan

Supporting documents available

Wards affected

All

Cabinet member(s)

Portfolio Holder for Sustainable Growth

Contact Officer

Stuart Quick, Economic Growth Manager, stuart.quick@north-norfolk.gov.uk

Links to key documents:

Corporate Plan:          

Investing in Our Local Economy & Infrastructure

Medium Term Financial Strategy (MTFS)                                

The contents of this report do not directly impact upon the MTFS. Activities within the Strategy are predominantly funded through external funding, leveraged match funding from partners and normal business.

Council Policies & Strategies

N/A

Corporate Governance:

Is this a key decision 

No

Has the public interest test been applied

Not an exempt item

Details of any previous decision(s) on this matter

N/A

Executive Summary

The final decision as to whether to progress to conclude the Compulsory Purchase of the former ‘Shannocks’ building now needs to be made. The report considers the issues and options and advocates that Councillors decide the way forward.

Options considered

The report sets out two main options – with a series of ‘sub-options’. The two main options are:

(i)            (i) To continue with the Compulsory Purchase Process and serve the General Vesting Document; or,

(ii)           (ii) To withdraw from the process and leave the property in the hands of the current owners.

Consultation(s)

The Council’s legal services team have been involved throughout this work.

Recommendations

This is a Cabinet decision, and the recommendation is likely to be (subject to the outcome of discussion with the owners prior to Cabinet) to authorise the Director for Place and Climate Change to make the final decision (in consultation with specified others).

Reasons for recommendations

To provide a clear position for discussions with the current owners and to thereafter enable Officers to conclude matters.

Background papers

December 2022 Cabinet report – attached as Appendix 1.

Valuation report October 2022

Planning Applications:

§  RV/21/2885 approved in March 2022

§  PF/18/1603 approved in October 2018; and,

§  PF/17/0192 approved in October 2017.

Wards affected

Sheringham North

Cabinet member(s)

Cllr Lucy Shires

Contact Officer

Russell Williams - Assistant Director: Planning

Links to key documents:

Corporate Plan:          

See Section 4.1 of the report.

Medium Term Financial Strategy (MTFS)                                

Yes – costs of the CPO are allowed for within the Capital Programme

Council Policies & Strategies

Medium Term Financial Strategy (Capital Programme)

Corporate Governance:

Is this a key decision 

Yes

Has the public interest test been applied

Yes – the report is effectively divided into two parts – with as much as practically possible in the ‘Public’ part of the Agenda – and - an Appendix (3) in the ‘Closed’ Part of the Agenda.

Information in Appendix 3 involves the likely disclosure of exempt information as defined in paragraph 3, Part 1 of schedule 12A (as amended) to the Local Government Act 1972.

This paragraph relates to:

Para 3.  Information relating to the financial or business affairs of any particular person (including the authority holding that information)

The public interest in maintaining the exemption outweighs the public interest in disclosure for the following reasons:

The information is commercially sensitive, relating to commercial options being considered by the authority. Releasing this information would be likely to have a prejudicial impact upon third parties as well as the Council in obtaining best value.

Details of any previous decision(s) on this matter

Cabinet: 5^th December 2022

Cabinet: 4^th November 2019