Issue - meetings
Revenue Budget Monitoring 2022/23 (Interim)
Meeting: 12/07/2022 - Cabinet (Item 13)
As detailed in the recommendation.
Councillor Johnson introduced the item which provided the first overview of the budget monitoring position for the 2022/23 financial year. Significant variances which could impact the financial position in 2022/23 were reported by exception.
Based on the high level assumptions in the report, the potential variations to budget identified by Portfolios equated to a minimum net additional expenditure requirement of around £0.300m.
The Council’s ability to mitigate financial risks in the recovery phase from the pandemic in the first half of the year, following the loss of the hardship and income loss Grant from Welsh Government (WG), would centre on review and challenge of delayed and deferred spend, maximising income streams following a return to normal operations.
An amount of £2.066m remained available from the £3m emergency ring-fenced fund. The 2022/23 budget approved in February included a top up of £3.250m to the reserve to provide a prudent safeguard against any ongoing impacts of the pandemic.
The Strategic Finance Manager explained that a full detailed monitoring report would be provided in September which would update on the overall financial position.
Councillor Roberts thanked Flintshire residents for payments of Council Tax and said if any residents found themselves in any financial difficulty that they should make contact with the Council who could either help, or signpost them to the appropriate place.
That the report and the estimated financial impact on the 2022/23 budget be noted.