Issue - meetings

As detailed in the recommendations.

Councillor Johnson introduced the report which provided the latest revenue

budget monitoring position for 2022/23 for the Council Fund and the Housing Revenue Account.

The projected year end position was:

Council Fund

·         An operating deficit of £0.094m (excluding the impact of the pay award which would need to be met by reserves), which was an adverse movement of £0.061m from the deficit figure reported at Month 6

·         A projected contingency reserve available balance as at 31st March 2023 of £4.055m (after the impact of the final pay awards)

Housing Revenue Account

·         Net in-year revenue expenditure forecast to be £3.321m higher than budget

·         A projected closing balance as at 31st March 2023 of £3.153m

The report had been submitted to Corporate Resources Overview and Scrutiny Committee the previous week where it was supported.

The Corporate Finance Manager explained that the Hardship Funding from Welsh Government (WG) helped secure £16m of direct financial help the previous year and the authority would continue to claim for payments in 2022/23 for Self-isolation and Statutory Sick Pay Enhancement payments, along with Free School Meals direct payments within their eligible periods.

RESOLVED:

(a)       That the estimated financial impact on the 2022/23 budget be noted; and

(b)       That the carry forward requests be approved.