Issue - meetings

That having considered the Revenue Budget Monitoring 2023/24 (Interim) report, the Committee notes the recommended contribution to the Theatr Clwyd Trust.

The Strategic Finance Manager presented a report on the interim in-year budget monitoring position for 2023/24 for the Council Fund and Housing Revenue Account (HRA).  This was an exception report on potential significant variances which could impact on the financial position in 2023/24.  Financial risks only had been highlighted at this stage with a detailed monitoring report scheduled for September.

As previously reported, the final level of Council Fund contingency reserve carried into 2023/24 was £9.508m (subject to audit) along with £3.743m of remaining Covid-19 emergency reserves.  Based on high level assumptions, the report detailed a range of potential variations to budget identified by portfolios at this early stage.  On un-earmarked reserves, the report highlighted the impact of the current estimated pay award shortfall upon the contingency reserve, along with the recommended contribution to the Theatr Clwyd Trust’s opening reserve position as set out in paragraph 1.13.  On the HRA, a risk to the projected outturn on rental income from void HRA properties would be closely monitored.

On questions from Councillor Jason Shallcross, the Strategic Finance Manager said there was uncertainty on whether WG would continue to fund teachers’ pay awards beyond 2022/23 and 2023/24.  On fleet contract renewal, he agreed to seek a response from the service on carbon reduction initiatives.

Councillor Bill Crease asked about the terms of the contribution to Theatr Clwyd to which the Chief Executive clarified that this was one-off provision set out within the clause of the cultural services agreement.

The Chairman noted the range of pressures across all portfolios and asked about arrangements to monitor and mitigate the risk from void properties.  The Chief Executive gave assurance that regular progress updates were being reported to the Community & Housing Overview & Scrutiny Committee.

The recommendation, as amended, was moved and seconded by the Chairman and Councillor Bill Crease.

RESOLVED:

That having considered the Revenue Budget Monitoring 2023/24 (Interim) report, the Committee notes the recommended contribution to the Theatr Clwyd Trust.