Issue - meetings

Dewi A Morgan, Host Authority Head of Finance (Statutory Finance Officer) and Sian Pugh, Host Authority Assistant Head of Finance to present the report.

To approve:-

1.    The 2023/24 Revenue Budget as presented in Appendix 1 to the report.

2.    Funding contributions to include the partner contributions, local authorities’ supplementary contributions and partner interest contributions.

3.    The Capital Budget for the Growth Deal as presented in Appendix 2.

The report was presented by Sian Pugh (Assistant Head of Finance, Host Authority).

RESOLVED

To approve:-

1.         The 2023/24 Revenue Budget as presented in Appendix 1 to the report.

2.         Funding contributions to include the partner contributions, local authorities’ supplementary contributions and partner interest contributions.

3.         The Capital Budget for the Growth Deal as presented in Appendix 2.

REASONS FOR THE DECISION

1.         In order to operate effectively within the funding available, the NWEAB requires an annual budget to be approved.

2.         Appendix 1 to the report sets out the proposed budget per expenditure heading and the corresponding funding streams for the year.

3.         Appendix 2 sets out the proposed capital budget per project and the corresponding capital funding for the Growth Deal of £240m.

4.         To authorise the Portfolio Director to incur expenditure in accordance with the approved budget.