Decision details

The Director of Resources and Deputy Chief Executive submitted a report for Committee to agree the next steps with regard to the Jubilee Fund.

Members were reminded that a £1m Jubilee Fund had been agreed following one-off windfall savings from the financial year 2023/24, which would fund one-off items to be considered by the Budget Working Group and approved by this Committee. The report explained that the Council continued to work hard to ensure that the UKSPF and REPF funds were spent before the deadline of 31 March 2025. As the funds were overallocated, it had been suggested that a contingency fund be set aside to fund any overspend, which would ensure that the available money was fully utilised. In addition, the Voluntary Organisation grants scheme and Recreation and Culture grants scheme were about to be launched.

It was therefore recommended to defer the Jubilee Fund until a later date to avoid confusion and until it became apparent if part of the fund would be needed in order to fund any UKSPF or REPF overspend.

Committee were verbally updated at the meeting that the Budget Working Group had met on 4 November 2024 and recommended that the Jubilee Fund should not be used to fund any overspend from the UKSPF and REPF schemes and that other funding options should be explored.

Councillor S Bibby left the meeting during the debate.

Members supported the Budget Working Group recommendation however it was suggested that the Jubilee Fund be discussed again at the next Budget Working Group meeting.

RESOLVED THAT COMMITTEE:

Agree with the suggested approach for the Jubilee Fund and fund the potential overspend on UKSPF and REPF schemes not from the Jubilee Fund but from General Fund Balances or reserves.

Councillor S Bibby returned to the meeting.