Issue - meetings

As detailed in the recommendations.

Councillor Johnson introduced the item which provided an update to the additional budget requirement for the 2023/24 financial year in advance of the specific Member briefings and Overview and Scrutiny meetings to be held in the Autumn.

The current national employers pay offers for Teachers and NJC (Green Book) employees were now known and the significant financial impact had been included in the revised forecast.  Latest intelligence on potential future increases on utility prices had also been built into the forecast, which was also significant.

The impact of pay and utilities, together with other changes to existing cost pressures and some new emerging pressures across Portfolios, had increased the minimum budget requirement to £24.348m.

The Corporate Finance Manager explained that the report also set out the budget solutions and risks that would need to be urgently considered to enable the Council to set a legal and balanced budget in February.

There were a number of ongoing risks that could change the additional budget requirement further, which were detailed in the report.

The Chief Executive reiterated the challenge facing the Council to deal with the deficit position.  Each portfolio would be holding a finance briefing session before reports being submitted to Overview and Scrutiny Committees.

Councillor Roberts and the Chief Executive expressed their thanks to all staff who had been involved in Operation London Bridge.

RESOLVED:

(a)       That the revised additional budget requirement for the 2023/24 financial year be received and noted; and

(b)       That the budget solutions and risks that will need to be urgently considered to enable the Council to set a legal and balanced budget in February be noted.