Issue - meetings

That having considered the Revenue Budget Monitoring 2022/23 (Month 8) 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 8 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 £0.352m, leaving a contingency reserve balance of £3.797m at year-end (after the impact of final pay awards).

An update was given on current 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) which stood at £4.064m.  Significant movements across portfolios from month 7 were summarised including a carry-forward request by People & Resources.  The tracking of in-year risks reported a marginal dip in Council Tax collection levels which reflected a national trend.  Other tracked risks included the current position with Out of County Placements.

On the HRA, projected in-year expenditure of £3.076m higher than budget would leave a closing un-earmarked balance of £3.398m, which was above the recommended guidelines on spend.

In response to a question from the Chairman, the Strategic Finance Manager agreed to provide a separate response on the movement in the approved budgets from Chief Executive’s to Assets, which the Corporate Manager (Capital Programme and Assets) said could relate to third sector grants.

On a query by Councillor Alasdair Ibbotson, the Chief Executive and Chief Officer (Streetscene & Transportation) provided clarification on additional costs arising from the Proclamation Event and Queen’s State Funeral.

Councillor Bernie Attridge asked about the approach for some portfolios to absorb additional Covid-19 recovery costs from their underspends.  The point was noted by the Corporate Finance Manager who said that officers would look at this for the next report.  On the carry-forward request, he advised that this complied with the reserves and balances protocol to show transparency.

Councillor Attridge’s request that any underspend on the HRA be considered for use in improving performance with void properties was acknowledged by Councillor Sean Bibby.

The recommendation was moved and seconded by Councillors Bernie Attridge and Linda Thomas.

RESOLVED:

That having considered the Revenue Budget Monitoring 2022/23 (Month 8) report, the Committee confirms that there are no specific issues to be raised with Cabinet.