Issue - meetings

This report provides a year end analysis of the overall finance and performance position. This is the final report of the financial year.

Resolved:

                      i.         Noted the finance and performance information;

                     ii.         Noted the use of the contingency and earmarked reserves to fund the overspend of £3.6m;

                    iii.        Approved the £591k savings identified during the year and outline in paragraphs 89 to 91 of the report as part of the review of early intervention and prevention activities across the Council;

                   iv.        Approved the business rates write offs outlined in paragraphs 29 to 32 of the report.

Reason:     To ensure expenditure is kept within the approved budget.

                     v.        Approved the extension to April 2026 for the letter of credit to York Museums Trust as outlined in paragraphs 24 to 26 of the report;

                   vi.        Approved the provision of a letter of guarantee to the York Theatre Royal, providing them with access to a maximum of £426k over the next 2 years should it be required as outlined in paragraphs 27 to 28 of the report.

Reason:     To secure the financial viability and confidence in the

Theatre Royal through its change programme

The Chief Finance Officer introduced the report. She noted that there had been improvements in the Council’s finances, but that there remained a significant overspend with recurring issues within Adults and Childrens Services.

The Executive Member for Finance, Performance, Major Projects, Human Rights, Equality and Inclusion noted that the financial outturn continued to be a challenge and that Council’s across the country were struggling to fund services particularly with the costs associated with complex care. She confirmed that the Executive worked with officers to set ambitious savings targets to ensure the Council maintained financial independence and protect frontline services.

Resolved:

                      i.         Noted the finance and performance information;

                     ii.         Noted the use of the contingency and earmarked reserves to fund the overspend of £3.6m;

                    iii.        Approved the £591k savings identified during the year and outline in paragraphs 89 to 91 of the report as part of the review of early intervention and prevention activities across the Council;

                   iv.        Approved the business rates write offs outlined in paragraphs 29 to 32 of the report.

Reason:     To ensure expenditure is kept within the approved budget.

                     v.        Approved the extension to April 2026 for the letter of credit to York Museums Trust as outlined in paragraphs 24 to 26 of the report;

                   vi.        Approved the provision of a letter of guarantee to the York Theatre Royal, providing them with access to a maximum of £426k over the next 2 years should it be required as outlined in paragraphs 27 to 28 of the report.

Reason:     To secure the financial viability and confidence in the

Theatre Royal through its change programme