Issue - meetings

Budget Report

Meeting: 18/09/2023 - Economy Regeneration & Housing Committee (Item 28)

28 In-Year Budget Position pdf icon PDF 423 KB

Additional documents:


The Director of Regeneration and Place presented a report which provided an update on the budgets in respect of the in-year position and the anticipated pressures for future years which were being considered within the Medium-Term Financial Plan.


Members were informed that the Medium-Term Financial Plan considered the future pressures and savings options that had been put forward as part of a balanced budget position. The Council faced a challenging financial outlook due to inflationary and demand pressures alongside the previous significant reductions in Government funding and uncertainty around the future financial settlements. At the end of Quarter 1, there was a forecast adverse variance of £0.5m against the Committee’s revised net revenue budget of £13.21m, which is equivalent to a variance of 4% from the annual budget.


Members queried the £0.5m adverse variance, future budget pressures and £200k mitigation. Assurance was given regarding containment of spend. Also queried was the implementation of the Enterprise Resource Planning software, costs associated with Birkenhead Commercial District, future options for Wallasey Town Hall and a recent contract for commercial property advice.


It was moved by Councillor Tony Jones and seconded by Councillor George Davies that the report be noted and endorsed.


Councillor Jo Bird moved a procedural motion that the two proposed resolutions be voted on separately. This procedural motion was voted on and lost (3:7)


The Original motion was then put to the vote and carried (7:3) It was therefore,


Resolved – that the report be noted and endorsed.