Issue - meetings

(a)       That having considered the Revenue Budget Monitoring 2020/21 Month 9 report, the Committee confirms that there are no specific matters to be reported to Cabinet; and

(b)       That having considered the Capital Programme 2020/21 Month 9 report, the Committee confirms that there are no specific matters to be reported to Cabinet.

The Corporate Finance Manager and Finance Manager presented a report on the revenue budget monitoring position for the Council Fund and Housing Revenue Account (HRA) at Month 9, together with the month 9 position on the Capital Programme of 2020/21 prior to consideration by Cabinet.

Revenue Budget Monitoring

The report reflected the budget position at the close of the financial year if all things remained unchanged and took into account the latest position on Welsh Government (WG) Emergency Grant funding announcements.

On the Council Fund, the projected year-end position - without new actions to reduce cost pressures and improve the yield on efficiency planning - was an operating surplus of £0.372m, leaving a projected contingency reserve balance of £1.787m at the end of the financial year.  This projection included savings achieved through the continued review of non-essential spend and vacancy management.  The reasons for the favourable movement of £0.102m from month 8 were set out in section 1.04 of the report.  An update was provided on the key financial risks and new emerging risks, together with the position on the emergency ring-fenced fund, achievement of planned in-year efficiencies, reserves and balances as detailed in the report.

On the HRA, a projected underspend of £1.641m would leave a closing un-earmarked balance of £3.650m, which was above the recommended guidelines on spend.

During the presentation, the Chairman asked for a pause to remind Members of the previously circulated guidance on Remote Attendance Meetings: all present should conduct themselves as formally as they would do at a meeting in County Hall.

On emerging risks, the Chief Executive and Councillor Thomas said that representations were being made to WG for a reclaim of the capital reinstatement costs from the recent severe flooding.

Following questions, officers would provide a separate response on the types of fines involved in the variance within Governance and the reason for the increase in insurance reserves.  Further explanation would also be shared on the number of service users affected by incorrect charges under the Financial Assessment Regulations and the type of support services involved.  A response to Councillor Heesom’s request for contact details in the Planning, Environment & Economy portfolio to explain the movement in variances from Month 8 would be shared with the Committee.

The recommendation was moved and seconded by Councillors Heesom and Jones.

Capital Programme

The total for the revised programme for 2020/21 was £76.962m taking into account all carry forward sums and savings transfer back to the programme.  Changes during the period were mainly due to the introduction of grant funding streams and budget re-profiling.  The summary position on capital expenditure at Month 9 showed a projected underspend of £4.352m on the Council Fund to be carried forward into 2021/22 and a break even position on the HRA.  A summary was given of amounts to be carried forward into 2021/22 together with some additional allocations as set out in the report.  The position on funding of 2020/21 approved schemes including the impact of capital receipts and savings  ...  view the full minutes text for item 62