Decision status: Recommendations Approved
Is Key decision?: No
Is subject to call in?: No
The Chief Officer – Finance, Performance and Change presented a report giving an update on the Council’s revenue financial performance for the year ended 31st March 2022 and seeking approval for budget virements between £100,000 and £500,000, as required by the Council’s Financial Procedure Rules.
The Chief Officer – Finance, Performance and Change gave a summary of the financial position at 31st March 2022. She explained that given the changes that had occurred which had resulted in a better financial position at the end of 2021-22, the Council was able to apply some of this funding to investments to support its residents.
The Chief Officer – Finance, Performance and Change provided a summary of the financial position for each main service area attached at Appendix 3 to the report and commented on the most significant variances. She also outlined the most significant variances in the Council wide budgets and summarised the movement on earmarked reserves.
The Cabinet Member for Resources asked that his appreciation be recorded for Welsh Government (WG) and their support for Local Government following successful lobbying by the WLGA, the Leader and officers. He was pleased to note that WG had listened and responded.
The Leader echoed the comments made that WG had been very supportive and acknowledged that they had been in the same position with last minute decisions from UK Government. He asked the Chief Officer – Finance, Performance and Change if other authorities were in the same position with unexpected grants awarded late in the financial year. He asked, with regard to the outstanding savings identified in the Streetworks review, that if they did not receive approval from WG, the Corporate Director for Communities together with the Cabinet Member for Communities should write to WG to try to achieve that budget reduction proposal.
The Chief Officer – Finance, Performance and Change confirmed that all authorities had received money late in year and were reporting along the same lines as Bridgend with regard to underspend in year and increased reserves.
The Cabinet Member for Communities echoed the comments made. With regard to the savings which had been identified as part of the Streetworks review, he asked that if they could not get approval from WG then it could be classed as a corporate pressure and not a pressure on the communities budget.
• noted the revenue outturn position for 2021-22
• recommend that Council approve the virements between £100,000 and £500,000 as outlined in paragraph 4.1.15
Publication date: 19/05/2023
Date of decision: 14/06/2022
Decided at meeting: 14/06/2022 - Cabinet