Issue - meetings

To consider a report by Councillor Julian Thompson-Hill, Lead Member for Finance, Performance and Strategic Assets (copy enclosed) detailing the latest financial position and progress against the agreed budget strategy.

RESOLVED that Cabinet –

(a)       note the budgets set for 2021/22 and progress against the agreed budget strategy, and

(b)       approve the conversion of Llys Anwyl, Rhyl into apartments for social rent (as detailed in Section 6.7 of the report and Appendices 5 and 6 to the report).

Councillor Julian Thompson-Hill presented the report detailing the latest financial position and progress against the agreed budget strategy as outlined below –

·        the net revenue budget for 2021/22 was £216.818m (£208.302m in 2020/21)

·        an overspend of £1.179m was forecast for service and corporate budgets (£0.656m last month with the variance largely due to an increase in the use of external contractors/increase in material prices in Highways, Facilities and Environmental Services [£102k], and financial implications of cost increases in school contracts in Planning and Public Protection [£464k])

·        detailed agreed savings and efficiencies worth £2.666m relating to fees and charges, operational efficiencies, changes in service provision and schools

·        highlighted current risks and assumptions relating to individual service areas, corporate budgets and schools together with the impact of coronavirus and position on funding claims to the Welsh Government, and

·        a general update on the Housing Revenue Account and Housing Capital Plan, Treasury Management and Capital Plan with an update on major projects.

Cabinet approval was also sought for the conversion of Llys Anwyl, Rhyl into apartments for social rent as detailed within the report and the Housing Development Manager provided further background and an overview of the project.

The Head of Finance and Property further highlighted the reasons for the projected overspend on school transport advising that an assessment would be carried out as part of the budget process as to whether to include a pressure for that element going forward.  In response to questions he also elaborated upon the tightening of the criteria for financial assistance provided by Welsh Government via the hardship fund and the implications of that would become clearer as the results of subsequent claims were known, any issues identified as part of that process would be reported back to Cabinet.  With regard to the Rhyl Queens Market Redevelopment the initial quote to deliver Phase 1 had been £1.4 over budget and officers had been working closely with the contractors on the detailed design options to reduce the costs to within budget or further invest for an enhanced design.

RESOLVED that Cabinet –

(a)       note the budgets set for 2021/22 and progress against the agreed budget strategy, and

(b)       approve the conversion of Llys Anwyl, Rhyl into apartments for social rent (as detailed in Section 6.7 of the report and Appendices 5 and 6 to the report).