Issue - meetings

That having considered the Revenue Budget Monitoring 2022/23 (Interim) report, the Committee confirms that there are no specific issues which it wishes to raise with Cabinet.

The Strategic Finance Manager (Corporate Finance) presented a report on the interim in-year budget monitoring position for 2022/23 for the Council Fund and Housing Revenue Account (HRA).  This was an exception report on potential significant variances which may impact on the financial position in 2022/23 and progress in achieving planned efficiencies against targets set for the year.

Based on high level assumptions set out in the report, the potential variations to budget identified by portfolios at this stage equated to a minimum net additional expenditure requirement of around £0.300m.  As reported in the previous item, the remaining £2.066m from the Covid-19 emergency ring-fenced fund, topped up with £3.250m provided for in the 2022/23 approved budget, had raised the total to £5.316m.  Covid-related claims from across portfolios were being reviewed to determine eligibility for those reserves, given the cessation of the Welsh Government (WG) Hardship Fund.  Work was continuing to review progress on emerging risks and unachieved efficiencies which could impact on the 2023/24 budget.  An overview of the in-year position included a number of cost pressures in Children’s Services and Streetscene & Transportation with the increase in fuel prices emerging as a corporate pressure.  A number of open risks had been identified at this stage and would be subject to continued monitoring.

Councillor Alasdair Ibbotson asked about the potential for WG to extend Covid funding arrangements and whether the additional £3.250m top-up to the Council’s emergency reserves would still be required.  The Strategic Finance Manager advised that aside from the additional funding on the Covid-19 Statutory Sick Pay enhancement scheme, there was no indication from WG that previous Covid-related funding would continue and that work was ongoing to collate and review internal claims.  When asked about the Council’s topped up emergency reserves, there was uncertainty at this early stage as to what level would be required.

In response to a question on financial arrangements for Parc Adfer, the Chief Officer (Governance) provided a brief overview of the model associated with the contract and asked that specific details be requested separately.  The Chairman asked that Councillor Ibbotson direct the question through the Facilitator with the response to be shared with the full Committee.

In thanking officers for the report, Councillor Paul Johnson paid tribute to the robust budget monitoring process adopted by the Council.

His comments were endorsed by the Chairman who sought clarification on the £0.275m variance on Resources and Regulated Services.  The Strategic Finance Manager agreed to circulate a more detailed response.

The recommendation was moved and seconded by Councillors Richard Jones and Bill Crease.

RESOLVED:

That having considered the Revenue Budget Monitoring 2022/23 (Interim) report, the Committee confirms that there are no specific issues which it wishes to raise with Cabinet.