Agenda item

To consider a report by Councillor Gwyneth Ellis, 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 2023/24 and progress against the agreed strategy;

(b)      approve the Council Tax Base for setting the 2024/25 budget as detailed in Appendix 5 to the report;

(c)      approve the Ysgol Bro Cinmeirch business case for submission to the Welsh Government Capital Programme as detailed in Section 6.9 and Appendix 6 to the report, and

(d)      approve the Ysgol y Llys business case for submission to the Welsh Government Capital Programme as detailed in Section 6.9 and Appendix 7 to the report.

Councillor Gwyneth Ellis presented the report detailing the latest financial position and progress against the agreed budget strategy.

A summary of the Council’s financial position was provided as follows –

·         the net revenue budget for 2023/24 was £250.793m (£233.696m in 2022/23)

·         an overspend of £3.325m was forecast for service and corporate budgets

·         highlighted current risks and assumptions relating to corporate budgets and individual service areas

·         detailed savings and efficiencies and increases in fees and charges (£8.172m)

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

The Head of Finance and Audit guided members through the detail of the report.  There was a slight increase in the forecasted overspend on service and corporate budgets and main areas of overspend continued to be due to pressures in Adults Social Care and Homelessness, Children’s Services and Highways and Environmental Services.  There were no changes to report in relation to the Housing Revenue Account and in relation to schools there was a slight increase in the forecast use of reserves that schools would need to use in year.  The usual appendices had been included on the Capital Plan and Major Projects.

Cabinet was also asked to approve the Council Tax base for setting the 2024/25 budget together with capital business cases relating to Ysgol Bro Cinmeirch and Ysgol y Llys.  Both school projects would seek to draw down 100% of the funding costs from the relevant Welsh Government Capital Grant Programme.

The Corporate Director: Environment and Economy responded to a question from Councillor Terry Mendies regarding the internal fit out of the Queen’s Market development.  He explained that the construction phase was nearing completion and the intention had been to agree the nature of the final fit out with the operator of the facility.  As the proposed partnership with Mikhael Hotel and Leisure Group had not been taken forward, work would be undertaken within the funding available to fit out the facility as appropriate to enable the facility to be opened.  It was agreed that further questions relating to other aspects of the Queen’s Market development be raised by Councillor Mendies outside of the meeting given that they did not relate to the Cabinet finance report currently under consideration.

RESOLVED that Cabinet –

(a)       note the budgets set for 2023/24 and progress against the agreed strategy;

(b)       approve the Council Tax Base for setting the 2024/25 budget as detailed in Appendix 5 to the report;

(c)        approve the Ysgol Bro Cinmeirch business case for submission to the Welsh Government Capital Programme as detailed in Section 6.9 and Appendix 6 to the report, and

(d)       approve the Ysgol y Llys business case for submission to the Welsh Government Capital Programme as detailed in Section 6.9 and Appendix 7 to the report.