Decision details

The report was accepted and the final financial position of the Council’s departments for 2023/24 was considered:

It was noted that there was significant overspend in the Adults, Health and Well-being Department, the Children and Families Department, the Highways, Engineering and YGC Department, the Environment Department and the Housing and Property Department this year (See column A in the table above). To approve the following financial virements (as outlined in Appendix 2):

The departments that are over-spending to receive one-off partial financial assistance to limit the overspend that will be carried forward by the Department to £100k (see column B in the table above).

It was confirmed to provide financial support of £308k above the contracted payment to Byw'n Iach (see column C in the table above).

On Corporate budgets:

-      Use the remaining balance in the Covid Fund of £4,402k to assist the departments that have overspent in 2023/24.

-      Use (£2,091k) of the corporate net underspend to assist the departments that have overspent in 2023/24.

-      The remainder of the net underspend of (£495k) on corporate budgets to be transferred to the Financial Strategy Support Fund.

The amounts to be carried forward were approved (the “Revised Over/(Under) Spend” in column D above and in Appendix 1.

The financial virements from the specific reserves were approved as outlined in Appendix 3 following a review of the reserves:

-      Harvesting (£1,703k) from reserves to be used in its entirety to assist the departments that have overspent in 2023/24.

-      To use £2,975k to fund one-off bids in 2024/25 following the removal of £1,113k from the Transformation Fund and transfer £1,862k from the Financial Strategy Support Fund.