Issue - meetings

As detailed in the recommendations.

Councillor Johnson introduced the report which provided the first overview of the budget monitoring position for the 2023/24 financial year where it was reported by exception on potential significant variances which could impact on the financial position in 2023/24.

The Corporate Finance Manager said at this early stage, financial risks only had been highlighted in the report.  The ability to mitigate those risks would centre on review and challenge of delayed and deferred spend, maximising income streams and grant funding.

The final level of Council Fund Contingency Reserve brought forward into 2022/23 was £9.508m as detailed in the 2022/23 outturn report (subject to audit).

An amount of £3.743m remained available from the original £5.316m COVID

emergency ring-fenced fund.

A full detailed monitoring report would be provided in September which would include a projection on the overall financial position for 2023/24.

The Democratic Services Manager explained that the report had been considered at Corporate Resources Overview and Scrutiny Committee the previous week and no comments were made.

RESOLVED:

(a)       That the report and potential financial risks on the 2023/24 budget be noted; and

(b)       That an allocation of £0.100m from the Contingency Reserve for Theatr Clwyd Trust be approved.