Here is a summary of the upcoming Finance Overview and Scrutiny Committee meeting. The committee will be reviewing proposed changes to the capital programme, revenue budget, treasury management, employment support, the voluntary sector, and council tax and services charges. The Finance Overview and Scrutiny Committee will convene to discuss several key financial and strategic issues impacting the borough.

Proposed Additions to the General Fund Capital Programme

The committee will consider a report regarding proposed additions to the General Fund Capital Programme. The report pack states that these additions include capital schemes costing £164.3m, with funding from various sources including Community Infrastructure Levy (CIL) and Section 106 receipts¹, grants, contributions, and council capital resources. The report pack notes that the proposed investment of £164.3m includes:

Investment of almost £31m over the next five years in improved Highway and Public Realm infrastructure with £10.5m earmarked for a new ‘Pride In Our Streets’ investment for enhancement of the borough’s street environment encompassing footpaths, lighting and signage. This also includes a further extension of the investment in Roads and Pavements of £10m in 2029/30, as part of the already committed £100m Decade of Renewal investment over 10 years.

The report pack also notes that the investment includes:

A commitment by the Council to invest in a Net Zero Decarbonisation Strategy with investment of £27m over the next five years, reducing its impact on the environment and providing improved value for money through savings in utility and energy costs.

The report pack also notes that the investment includes:

The investment in a new Leisure Infrastructure Plan both to protect existing services and facilities and enhance the offer to residents with £30m committed over the next five years as outlined in Paper No. 25-54 to the Environment Overview and Scrutiny Committee.

The report pack also notes that the investment includes:

Schools investment for repairs, maintenance and school places, totalling almost £8m, and is funded predominantly either via Government grants or developer contributions. An element of this investment includes repairs and maintenance schemes funded from the Schools Condition Allocation grant with detail included in Paper No. 25-67 to the Children’s Overview and Scrutiny Committee including a reserve list of schemes identified as funding becomes available.

The report pack includes a glossary of terms including Alton Renewal Plan (ARP), Committed Capital Programme (CCP), Community Infrastructure Levy (CIL), Development Pool (DP), Housing Revenue Account (HRA), Investment and Funding Board (IFB), Neighbourhood Community Infrastructure Levy (NCIL), Overview and Scrutiny Committee (OSC), Public Works Loan Board (PWLB), Section 106 receipts (S106), Strategic Community Infrastructure Levy (SCIL), Transport for London (TfL) and Vauxhall Nine Elms Battersea Opportunity Area (VNEBOA).

General Fund Revenue Budget Monitoring Position

The committee will receive a report on the General Fund Revenue Budget Monitoring Position. The report pack indicates that the council is projecting an overspend of £4.080m, or 1.90%, compared to the approved service committee budget of £214.330m as at Quarter 3. The report pack states that this is a £0.315m reduction compared with Quarter 2, when an overspend of £4.395m was forecast. The report pack notes that there has been a £0.927m increase in the Housing overspend, largely as a result of further increased demand and costs of homelessness. The report pack also notes that there has been a £0.771m reduction in the expected treasury gains, based on the latest Bank of England rate reduction and the latest predictions from Reuters around the future profile of drops. The report pack also notes that offsetting this is the recognition of an underspend against the inflation provision (-£2.000m) as inflationary requirements within council costs become clear.

Treasury Management Policy 2025/26

The committee will consider a report regarding the Council's Treasury Management Policy for 2025/26. The report pack states that approval is being sought for an updated Treasury Policy Statement for 2025/26, including the determination of the Council’s borrowing limit and operational boundary, and the Minimum Revenue Provision policy for the financial year 2025/26. The report pack also states that Prudential Indicators are included where the affordability limit and the impact of capital investment decisions are assessed. The report pack notes that the Council’s cash balances started the financial year at £624m, and that balances are £625m as at 31 December 2024 after peaking in July 2024 at £703m. The report pack also notes that investments are expected to be in excess of £580m as at 31 March 2025, and that the average return on investments as at 31 December 2024 is 5.18% and is expected to be around 5.10% at year-end. The report pack also notes that external debt has reduced to £8.6m at the end of December 2024 and will be nil at 31 March 2025, as the planned repayment of the HRA subsidy buy out debt comes to an end.

Connect to Work

The committee will consider a report regarding the delivery of the Connect to Work supported employment programme in Wandsworth. The report pack states that Connect to Work is the Department for Work and Pensions’ (DWP’s) new programme to support economically inactive people with disabilities, health conditions and other significant barriers to access sustainable employment. The report pack notes that the programme will be delivered by the sub-regional partnerships in London, Central London Forward in the case of Wandsworth. The report pack also notes that Wandsworth Council has indicated its preference is to directly deliver Connect to Work in the borough through the Council’s Work Match jobs service. The report pack includes a glossary of terms including Central London Forward (CLF), Department for Work and Pensions (DWP), Economic Development Office (EDO), Integrated Care Partnership (ICP), Individual Placement Support (IPS), Payment by Results (PBR), Supported Employment Quality Framework (SEQF), UK Shared Prosperity Fund (UKSPF) and Work and Health Programme (WHP).

The Council's new Voluntary Sector Strategy

The committee will consider a report regarding Wandsworth’s new Voluntary Sector Strategy. The report pack states that the Council’s ambitious programme of change and new strategic priorities such as London Borough of Culture, its place-shaping role, and desire to truly engage with residents will rely on a voluntary sector that has the capacity, skills and resources to work in partnership on these important programmes. The report pack notes that the Council is committed to reframing its relationship with the voluntary sector and working with and for the voluntary sector in a way that celebrates its contribution, but most importantly creates a fairer, more compassionate, and sustainable borough for residents and people that work, study or care for someone who lives in the borough. The report pack includes a glossary of terms including Voluntary and Community Sector (VCS), South-West London (SWL) and Integrated Care Board (ICB).

Council Tax 2025/26

The committee will consider a report regarding the Council Tax Requirement and Council Tax for 2025/26. The report pack states that this is the third council tax setting exercise under the current Administration and is based on budgets that reflect its priorities as set out in the Corporate Plan. The report pack notes that the Cabinet Member’s recommendation indicates a Council Tax Requirement and total tax amounts for 2025/26 which represents a freeze in Wandsworth’s share of the main council tax and a 2% increase in relation to the adult social care precept. The report pack also notes that the Conservators’ charge will increase by 2.4% and the GLA increase for the year is 4%. The report pack includes a glossary of terms including Greater London Authority (GLA), New Homes Bonus (NHB), National Non-Domestic Rate (NNDR), Revenue Support Grant (RSG) and Wimbledon and Putney Commons’ Conservators (W&PCC).

Setting of Charges - Environmental Services

The committee will consider a report regarding the Revision of Charges for Environmental Services. The report pack states that the changes are made in accordance with the Access for All policy framework agreed by Executive in July 2024 and any financial impact of increased concessions under that framework will be funded through the drawdown from the agreed £4.85 million Access for All Fund. The report pack notes that charges are reviewed to minimise any indirect subsidy from the Council taxpayer, seeking where possible to recover the cost of the service provision, but with a comprehensive concessionary offer for those who need assistance (protected residents). The report pack also notes that the proposed approach is to increase charges by 2.2% for all resident facing services in line with CPI inflation August 2024, and that the proposed fees are to be effective as of 1st April 2025. The report pack includes a glossary of terms including Consumer Prices Index (CPI) and Value Added Tax (VAT). The report pack includes information about proposed changes to fees for Trading Standards, Pest Control, Environmental Services, Licensing Pre-Application Advice and Street Naming & Numbering.