The Finance and Resources Select Committee of Buckinghamshire Council met on Thursday 16 July 2026. The committee received an overview of the council's approach to managing property and capital assets, including the Corporate Landlord model and the development of a Strategic Asset Management Plan (SAMP). The committee also reviewed the provisional budget outturn for the 2025-26 financial year, which reported a significant revenue surplus of £4.4 million, and discussed the capital programme outturn. Performance monitoring for the fourth quarter and the work programme for the upcoming year were also on the agenda.

Overview of the Council's Approach to Managing Property & Capital Assets

Councillor Robert Carington, Cabinet Member for Resources, introduced a report detailing the council's strategy for managing its property and capital assets. The approach aims to balance service delivery with cost efficiency, dividing the property portfolio into investment properties (income-generating) and operational properties (supporting council services). The Corporate Property and Assets (CP&A) team oversees these portfolios, with functions including asset management, estate management, and property construction. External advisors, such as Carter Jonas LLP, are utilized. A key development discussed was the adoption of a Corporate Landlord model, centralizing ownership, management, and maintenance under CP&A, and the development of a new Strategic Asset Management Plan (SAMP) to align with the council's five-year Corporate Plan.

During the discussion, councillors raised concerns regarding the potential loss of autonomy for individual services, slower response times under the Corporate Landlord model, the impact of asset management changes on community access, the future of the Sports and Social Club at Stoke Mandeville, achieving best value when disposing of properties, and countering public speculation during information vacuums. Clarification was also sought on the Dedicated Schools Grant (DSG) deficit figures.

Councillor Carington and Amy Bridgford, Service Director for Corporate Property and Assets, addressed these concerns, explaining the Corporate Landlord model's aim to empower experts and improve efficiency. They detailed governance processes for asset disposals and assured members that community access and resident convenience are key considerations. The SAMP is expected to guide decisions on asset utilisation and financial stability.

Budget Outturn 2025-26

Councillor Robert Carington presented the provisional budget outturn for the 2025-26 financial year, reporting a revenue surplus of £4.4 million, attributed to one-off financial gains and strong cost-control measures. Favourable variances were noted in portfolio budgets (£13.8 million), including savings in Health & Wellbeing (£5.6 million), Home to School Transport (£4.6 million), and additional income in Planning (£3.7 million) and Property (£2.0 million). Adverse variances included Education & Children's Services (£5.2 million) due to high demand for external residential placements and increased unit costs, and Temporary Accommodation (£0.6 million). Corporate budgets showed a favourable variance of £9.1 million from Treasury Management and £3.7 million from Capital Financing.

Proposed transfers to reserves totalled £26.5 million for various future priorities, including capital, the DSG deficit, and invest-to-save projects. The overall surplus of £4.4 million will be transferred to the General Fund. The capital programme outturn was £155.8 million against a budget of £173.8 million (90% delivery). Key capital highlights included investment in highways, infrastructure improvements, housing infrastructure funds, and education places.

The Dedicated Schools Grant (DSG) deficit stood at £20.98 million at the end of the year. The council is awaiting confirmation from the Department for Education regarding the High Needs Stability Grant, expected to cover 90% of the cumulative deficit, subject to the submission and approval of a Local SEND reform plan. Funds for the remaining 10% have been prudently set aside.

Councillors raised questions regarding the clarity and detail of financial reporting, movements to reserves, breakdown of expenditure, realism of budget assumptions for children's services, and the achievement of best value in property disposals. Councillor Robert Carington, Councillor Steve Broadbent (Leader of the Council), and Fiona Jump (Deputy Chief Finance Officer) provided explanations, assuring members of the council's robust financial position and prudent management.

Performance Monitoring Q4

Sarah Murphy-Brookman, Corporate Director for Resources, presented the Q4 performance indicators for the Finance and Resources area. The committee reviewed performance across customer service, staff turnover, and debt recovery. Key points included telephony call wait times being above target, but high customer satisfaction. Voluntary staff turnover was below target, and sickness absence days per FTE continued to decline. The value of unsecured debt greater than 90 days was below target, and the percentage of invoices paid within 30 days exceeded the target. Average processing times for Housing Benefit claims were well below targets.

Concerns were raised regarding the assessment of voluntary staff turnover and the realism of budget assumptions for children's services. Clarification was also sought on property disposal communication and achieving best value.

Work Programme

The committee discussed and agreed on items for the upcoming work programme. The Strategic Asset Management Plan (SAMP) was identified as a key addition to be reviewed within the next two to three months, following its presentation to Cabinet. The committee noted that procurement is primarily reviewed by the Audit Committee.

Next Meeting

The next meeting of the Finance and Resources Select Committee was scheduled for 8 October 2026 at 2:00 pm.