Issue - meetings

As detailed in the recommendations.

Councillor Johnson introduced the report which provided the latest revenue

budget monitoring position for 2022/23 for the Council Fund and the Housing Revenue Account.

The projected year end position was:

Council Fund

·         An operating deficit of £0.352m (excluding the impact of the pay award which had been met by reserves), which was an adverse movement of £0.258m from the deficit figure reported at Month 7

·         A projected contingency reserve available balance as at 31st March 2023 of £3.797m

Housing Revenue Account

·         Net in-year revenue expenditure forecast to be £3.076m higher than budget

·         A projected closing balance as at 31st March 2023 of £3.398m

             Hardship funding from Welsh Government helped secure £6m of direct financial help the previous year and payments in 2022/23 had continued to be claimed for Self-isolation and Statutory Sick Pay Enhancement, along with Free School Meals direct payments and Winter Fuel Payments within their eligible periods.

RESOLVED:

(a)       That the report and the estimated financial impact on the 2022/23 budget be noted;

(b)       That the carry forward request be supported; and

(c)        That the Contingency Reserve be increased by £2.4m from the additional Revenue Support allocation it received at the end of the 2022/23 financial year to enhance the level remaining to safeguard the Council against risks and other unforeseen events.