Agenda and draft minutes

Apologies were received from Councillor Sayers and Kirk.  

To approve the minutes from the Corporate Performance Panel held on 25^th February 2026.

RESOLVED: The minutes from the previous meeting were agreed as a correct record and signed by the Chair.

Please indicate if there are any interests which should be declared.  A declaration of an interest should indicate the nature of the interest (if not already declared on the Register of Interests) and the agenda item to which it relates.  If a disclosable pecuniary interest is declared, the Member should withdraw from the room whilst the matter is discussed.

These declarations apply to all Members present, whether the Member is part of the meeting, attending to speak as a local Member on any item or simply observing the meeting from the public seating area.

There were no declarations of Interest.

To consider any business which, by reason of special circumstances, the Chairman proposed to accept as urgent under Section 100(b)(4)(b) of the Local Government Act 1972.

There was none.

Members wishing to speak pursuant to Standing Order 34 should inform the Chairman of their intention to do so and on what items they wish to be heard before the meeting commences.  Any Member attending the meeting under Standing Order 34 will only be permitted to speak on those items which have been previously notified to the Chairman.

There was none.

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The Chair, Councillor Long highlighted to Members of the Panel, the report on the Notice of Motion on Lynnsport had been scheduled for this meeting however had been deferred to the scheduled Panel meeting in July due to the availability of the Member who had submitted the Notice of Motion.

There were no call-ins to consider.

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Portfolio Holder, Councillor Morley provided an introduction to the report and the Assistant Director for Finance and Deputy Section 151 Officer highlighted a forecast surplus, increased general reserves, and key movements in revenue and capital budgets.

The Assistant Director for Finance and Deputy Section 151 Officer explained that the forecast surplus for quarter three is £585,000, an improvement from the quarter two forecast of £383,000, mainly due to identified savings from vacant posts and recruitment processes, as detailed in Appendix A. The general fund reserve was forecast to reach £10.6 million by year-end, a significant improvement from previous predictions, attributed to the surplus and effective financial management. A minor last-minute amendment was made to the capital programme, with the updated budget for 2025-26 set at £40.3 million and 63% of this revised budget spent by the end of quarter three. The panel was informed that overdue debts, particularly those older than six months, were decreasing, and that the council's return on investments exceeded budget due to higher interest rates, despite lower than anticipated cash balances.

Portfolio Holder, Councillor Morley outlined the addition of £30,000 to the capital programme for a feasibility study at South Lynn Fire Station, initiated by Councillor De Winton, with the aim of enhancing training facilities in collaboration with the Fire and Rescue Authority.

In response to a question from Councillor Osborne, the Assistant Director for Finance and Deputy Section 151 Officer clarified a robust review of earmarked reserves led to the creation of a new £3.77 million reserve for the capital programme.

The Vice – Chair, Councillor Blunt commented on the additional funding allocated for the local plan and enquired if the work had been quantified. The Assistant Director for Finance and Deputy Section 151 Officer explained a contribution of £526,000 surplus from the 2024-25 revenue outturn was allocated to support the planning team in delivering the local plan, as agreed by Cabinet and Council. The planning service was actively seeking to reduce costs by delivering as much as possible in-house and leveraging work from the previous local plan cycle. The need for rapid delivery of the local plan was driven by central government, creating significant time pressure and necessitating additional funding.

The Chair, Councillor Long questioned the Public Works Loan Board (PWLB) rates and the re-negotiation of the loan from Barclays. The Assistant Director for Finance and Deputy Section 151 Officer explained The Borough Council repaid and closed two long-standing Barclays loans, achieving a discount of approximately £2 million, and replaced them with an £8 million loan from the Public Works Loan Board at a higher short-term interest rate. The decision to accept a higher short-term interest rate was made after modelling by independent treasury advisors, with the expectation that the long-term financial benefit from the loan discount would outweigh the short-term increase in interest costs.

Councillor Bearshaw sought further detail in relation to Appendix A, highlighting Community Safety and Nuisance and Marmot initiative.  ...  view the full minutes text for item CP113

RESOLVED: The Panel Forward Decision List was noted.

RESOLVED: The Cabinet Forward Decision List was noted.

RESOLVED: The Shareholder Committee Work Programme was noted.

To note that the next meeting of the Corporate Performance Panel is scheduled to take place on 3^rd June 2026 in the Council Chamber, Town Hall.

The next meeting of the Corporate Performance Panel was scheduled to take place on 3^rd June 2026 at 4:30pm in the Town Hall, Saturday Market Place.