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 report projected how the budget would stand at the close of the financial year, without new actions to reduce cost pressures and/or improve the financial return on efficiency planning and cost control was:

Council Fund

·         An operating deficit of £0.117m (excluding the impact of the pay award which had been met by reserves), which was a favourable movement of £0.235m from the deficit figure reported at Month 8

·         A projected contingency reserve available balance as at 31st March 2023 of £6.464m

Housing Revenue Account

·         Net in-year revenue expenditure forecast to be £3.208m higher than budget

·         A projected closing balance as at 31st March 2023 of £3.266m

             Hardship funding from Welsh Government helped secure over £16m of direct financial help the previous year and payments totalling £4.8m in 2022/23 had continued to be claimed for Self-isolation and Statutory Sick Pay Enhancement, along with Free School Meals direct payments and Winter Fuel Payments within their eligible periods.

RESOLVED:

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

(b)       That the carry forward request included in the report be supported; and

(c)        That the funding from Contingency Reserve outlined in the report be supported.