Agenda item

(a)       That having considered the Revenue Budget Monitoring 2022/23 (final outturn) report, the Committee confirms that there are no specific matters to be raised with Cabinet; and

(b)       That having considered the Capital Programme Monitoring 2022/23 (final outturn) report, the Committee confirms that there are no specific matters to be raised with Cabinet.

The Strategic Finance Managers presented reports on the 2022/23 final outturn for the Council Fund and Housing Revenue Account (HRA) and the Capital Programme, prior to consideration by Cabinet.

Revenue Budget Monitoring

On the Council Fund, a favourable movement of £0.907m from month 11 had resulted in the final outturn surplus position of £3.013m.  However, it was noted that various one-off items of expenditure totalling £5.876m had been approved for funding from the Contingency Reserve and that taking those amounts from the in-year revenue budget would have resulted in an overall net overspend of £2.863m for 2022/23.  The contingency reserve balance as at 31 March 2023 was £9.508m after taking into account previously approved allocations.  Payments totalling £5.419m had been claimed from the Welsh Government (WG) Hardship Fund, however there was no confirmation that the funding would continue for 2023/24.

Variances between month 11 and the final outturn were shown in the report including details of significant movements across portfolios.  An overview of in?year risks included additional amounts in the 2023/24 budget to reflect continuing high demand for Out of County Placements, Homelessness and School Transport services whilst positive movement on the collection of Council Tax was welcomed.  It was also reported that all of the planned efficiencies had been achieved during the year and that a balance of £3.743m of Covid-19 Emergency Reserves would be carried forward.  An overview of earmarked reserves was received together with analysis of the outturn position and contingency reserve level over the past five years.

On the HRA, the final outturn showed expenditure of £2.688m higher than budget which left a closing un-earmarked balance of £3.786m, which was well above the recommended guidelines.

In response to questions from Councillor Alasdair Ibbotson, explanation was given on increased income from property under Social Services and earmarked reserves carried forward to meet remaining commitments on the Local Development Plan.

On Streetscene & Transportation, Councillor Sam Swash asked about the likelihood of the waste recycling infraction charge being levied on the Council.  The officer responded that this was still under consideration by WG and that he would pursue an update from the portfolio.

Clarification was also given to Councillor Allan Marshall on the presentation of data in the table of earmarked reserves which showed levels at year-end moving into the next financial year.

Councillor Paul Johnson paid tribute to the work undertaken to reach an operating surplus position at year-end.

The Chairman thanked the Revenues & Procurement Manager and his team for the positive outturn on the collection of Council Tax.  As requested, the Strategic Finance Manager provided explanation on late minor movements between approved budgets and said that from month 4, information would be included within the report on all movements to approved budgets.  The Chairman also highlighted the Committee’s involvement on the reduction of outstanding debt for continuing health care joint packages and the cashflow benefit to the overall financial position.

Capital Programme

The revised programme for 2022/23 was £58.830m taking into account all changes including carry forward sums and savings transferred back to the programme.  Changes during the last quarter were mainly due to the allocation of additional WG grant funding and budget re-profiling.  Actual expenditure for the year totalled £55.013m which was 93.51% of the budget, leaving a £3.817m underspend recommended to be carried forward for the completion of schemes in 2023/24.  Additional allocations identified in the final quarter were summarised in paragraph 1.16.  Total savings of £0.013m were identified and the final outturn position had resulted in a revised opening funding position surplus of £1.302m, prior to the realisation of additional capital receipts and/or other funding sources.

The recommendations were moved and seconded by Councillors Allan Marshall and Jason Shallcross.

RESOLVED:

(a)       That having considered the Revenue Budget Monitoring 2022/23 (final outturn) report, the Committee confirms that there are no specific matters to be raised with Cabinet; and

(b)       That having considered the Capital Programme Monitoring 2022/23 (final outturn) report, the Committee confirms that there are no specific matters to be raised with Cabinet.