Issue - meetings

That having considered the Revenue Budget Monitoring 2022/23 (Month 7) report, the Committee confirms that there are no specific issues to be raised with Cabinet.

The Strategic Finance Manager introduced the report on the 2022/23 month 7 position for the revenue budget monitoring for the Council Fund and Housing Revenue Account (HRA) prior to consideration by Cabinet.

On the Council Fund, the projected year-end position - without new actions to reduce cost pressures and/or improve the financial return on efficiency planning and cost control - was an operating deficit of £0.094m (excluding the impact of the pay award to be met from reserves), leaving a contingency reserve balance of £4.055m at year-end after taking into account the impact of pay awards.

An update was given on eligibility for Welsh Government (WG) Hardship Funding claims and the current level of Covid-19 Emergency Reserves (as a safeguard against the continuing impacts of the pandemic).  Significant movements across portfolios from month 6 were summarised including carry-forward requests in Housing & Communities.  The tracking of in-year risks reported the impact of pay awards following confirmation of the teachers’ pay award at 5%.

On the HRA, projected in-year expenditure of £3.321m higher than budget would leave a closing un-earmarked balance of £3.153m, which was above the recommended guidelines on spend.

On the Council Tax Reduction Scheme, Councillor Alasdair Ibbotson requested information on the scale of overpayments owed, together with the expected and actual recovery rates.

The recommendation was moved and seconded by Councillors Bill Crease and Linda Thomas.

RESOLVED:

That having considered the Revenue Budget Monitoring 2022/23 (Month 7) report, the Committee confirms that there are no specific issues to be raised with Cabinet.