Issue - meetings

Report by Dafydd Edwards, Statutory Finance Officer – Host Authority.

To approve the 2020/21 Budget with ESF Grant Funding (Appendix 1b) and to allow the Programme Director, in consultation with Gwynedd Council's Section 151 Officer and Monitoring Officer and the Chairman, to commit up to an additional £100,000 from the earmarked reserve within the year, on the Planning, Development and Project Support heading if required, in order to maintain and realise the work programme timetable for the final Growth Deal

The report was submitted by Dafydd Edwards - Host Authority Head of Finance Department.

DECISION

To approve the 2020/21 Budget with ESF Grant Funding (Appendix 1b) and to allow the Programme Director, in consultation with Gwynedd Council's Section 151 Officer and Monitoring Officer and the Chairman, to commit up to an additional £100,000 from the earmarked reserve within the year, on the Planning, Development and Project Support heading if required, in order to maintain and realise the work programme timetable for the final Growth Deal.

REASONS FOR THE DECISION

The NWEAB was required to set out the proposed budget per expenditure heading and the corresponding funding streams for the year. With the Board's approval received, it is possible to operate effectively within the funding available.

DISCUSSION

The report was submitted noting that this item had been agreed via e-mail following the postponement of the previous meeting as a result of the Covid-19 crisis in order to allow the NWEAB to operate over the previous two months. It was added that, when the report had been written, formal confirmation in relation to the ESF grant had not been received; therefore, members were required to focus on scenario 2 in the budget.

The main changes between the 2019/20 and 2020/21 budget were highlighted, namely an increase in staffing costs and a reduction in the budget for project planning, development and support. It was added that the Growth Bid Grant Income would be received during the year but if it were received during the last quarter, it was confirmed they would deal with that at the time.

Attention was drawn to the need to make one-off virements to be funded from the reserve fund to fund expenditure under the following headings "Communication and Public Relations" and "Project Planning, Development and Support". The Budget was discussed and it was noted that it used £272,470 to fund one-off expenditure which would leave a balance of £358,000 in the allocated reserve fund to fund future one-off costs.

During the discussion the following matters were raised:-

·         The finance team was thanked for their work and it was noted that an additional £100,000 needed to be committed to the Project Planning, Development and Support heading to ensure that plans were completed.