The Cabinet of Carmarthenshire Council met on Monday 16 September 2024 to discuss the council's financial outlook, treasury management, and various strategic initiatives. Key decisions included approving the Annual Treasury Management and Prudential Indicator Report for 2023-2024, endorsing the approach to identifying savings for the upcoming financial years, and noting the proposed budget consultation process.

Revenue Budget Outlook

The Cabinet received a report detailing the council's current financial outlook and updates to the financial model for the next financial year. Concerns were raised about the significant financial challenges facing local government across Wales, with discussions highlighting the need for extensive lobbying of both the UK and Welsh Governments to ensure sufficient funding for wage and price increases. The Cabinet unanimously resolved to receive the initial budget outlook for 2025/26 to 2027/28, endorse the proposed approach to identifying required savings, and note the proposed approach to the budget consultation. This outlook indicated a projected shortfall in budget reductions, with significant pressures identified in areas such as schools' delegated budgets, children's services, and commissioned care. The report also detailed assumptions for pay awards, general inflation, energy costs, and Welsh Government funding, highlighting the uncertainty surrounding future financial settlements.

Annual Treasury Management and Prudential Indicator Report 2023-2024

The Cabinet considered and unanimously resolved to recommend to the Council the approval of the Annual Treasury Management and Prudential Indicator Report for 2023-2024. This report, a requirement of the CIPFA Code of Practice on Treasury Management, detailed the council's activities in investments, borrowing, and adherence to prudential indicators throughout the financial year. The report indicated that the council's investments generated an average rate of 4.76%, with total investments at the year-end amounting to £161 million. Borrowing for the capital programme during the year totalled £10 million. The report also confirmed compliance with various prudential indicators related to affordability, prudence, and liability benchmarking.

Appointment to the Rural Working Group Advisory Panel

The Cabinet unanimously resolved to approve the appointment of Councillor Deryk Cundy to the vacant seat on the Rural Working Group Advisory Panel, representing the Labour Group.

Public Question on Waste Collection

A question was raised by Sion Davies regarding concerns among the waste collection workforce about the proposed shift to four-weekly black bin collections and the centralisation of waste operations at Nantycaws. Councillor Edward Thomas, Cabinet Member for Transport, Waste and Infrastructure Services, responded that the council was committed to making informed decisions that balanced community needs, environmental sustainability, and economic viability, and was collaborating with the Welsh Government on this strategy. He assured that a full response would be sent following the meeting. The Leader of the Council also noted that he had received correspondence on the matter and a joint response would be issued.