Content

The report
was accepted and the final financial position of the Council’s departments for
2023/24 was considered:

 

 


Column
A 


⁠Column
B Column C


Column D
 





 


Gross Under / (Over) Spend
⁠
⁠
2023/24


Recommended
Adjustments


Amended Over /
Under Spend
⁠
2023/24




 


£ '000 


£'000



£'000


£
'000 




 
Adults, Health, and Well-being


3,906


(3,806)


0


100




Children and Families


2,611


(2,511)


0


100




Education 



0


0


0


0




Economy and Community


308


0


(308)


0




Highways, Engineering and YGC


687


(587)


0


100




Environment


1,237


(1,137)


0


100




Housing and Property


255


(155)


0


100




Corporate Management Team and Legal 


(11)


0


0


(11)




Corporate Support


(10)


0


0


(10)




Finance 



(7)


0


0


(7)

 

 

It was noted that there was significant overspend
in the Adults, Health and Well-being Department, the Children and Families
Department, the Highways, Engineering and YGC Department, the Environment
Department and the Housing and Property Department this year (See column A in
the table above). To approve the following financial virements (as outlined in
Appendix 2):

 

The 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 (see column B in the table
above).

 

It was confirmed to provide financial support
of £308k above the contracted payment to Byw'n Iach (see column C in the table
above).

 

On Corporate budgets:

-      Use the remaining balance in the
Covid Fund of £4,402k to assist the departments that have overspent in 2023/24.

-      Use (£2,091k) of the corporate net
underspend to assist the departments that have overspent in 2023/24.

-      The remainder of the net underspend of
(£495k) on corporate budgets to be transferred to the Financial Strategy
Support Fund.

 

The amounts to be carried forward were approved
(the “Revised Over/(Under) Spend” in column D above and in Appendix 1.

 

The financial virements from the specific reserves
were approved as outlined in Appendix 3 following a review of the reserves:

-      Harvesting (£1,703k) from reserves
to be used in its entirety to assist the departments that have overspent in
2023/24.

-      To use £2,975k to fund one-off bids
in 2024/25 following the removal of £1,113k from the Transformation Fund and
transfer £1,862k from the Financial Strategy Support Fund.