The
Chair reminded the Committee that a “root and branch”
review of the budget process for 2025/26 with assistance from the
Chamberlain’s Department had been committed to but there had
been significant delay. However, there had been a recent, welcome
change of approach with responsibility and accountability for the
budget production and justification passing to the Assistant
Director of the BRE. The Assistant Director advised the Committee
that the budget had historically ran concurrently with the City
Fund risk but the City Fund budget and risk had now been separated
from the local risk and service charge contributions. Officers
would continue to review, change and monitor the service charge
budget for the following year and a report was expected to be
submitted to the RCC at its first meeting of 2025 following
consultation with the working party to finalise
figures.</AI7>