Decision details

1.1 To note the final financial position of the Council’s departments for 2022/23.

1.2 To approve the amounts to be carried forward (the “Revised Over/ (Under) Spend” column of the summary in Appendix 1), namely:

1.3 To approve the following recommendations and financial virements (as outlined in Appendix 2):

·       In the Education Department, that £1,304k of additional electricity inflation and salaries of school assistants and administrative staff costs that is above the budget is funded from the balances of individual schools.

·       In the Housing and Property Department, that £2,482k of the Council Tax Premium Fund is used to fund the additional pressure in the Homelessness field.

·       Financial assistance of £550k to the Economy and Community Department as the effects of Covid have affected the income levels of Cwmni Byw'n Iach.

·       The following 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:

a.    £3,785K - Adults, Health and Well-being

b.    £2,434k – Highways and Municipal

·       On Corporate budgets:

a.    Use (£2,851k) of the Corporate net underspend to assist the departments that have overspent in 2022/23.

b.    That (£3,899k) relating to capital costs allocated to a capital programme fund.

c.     With the remainder of the net underspend of (£952k) on Corporate budgets being transferred to the Transformational Fund to fund the Council's priorities.

1.4 Approve the financial virements from specific funds as outlined in Appendix 3 following a review of the reserves, harvesting (£3,918k) from reserves to be used in its entirety to assist the departments that have overspent in 2022/23.