Issue - meetings

Budget Projection and Strategy 2022/23

Meeting: 29/07/2021 - Cabinet (Item 36)

36 Budget Projection and Strategy 2022/23 pdf icon PDF 346 KB

To consider and decide on the recommendations as set out in the associated report.

Additional documents:

Decision:

RESOLVED –That work continues towards reducing the projected budget deficit in line with the Budget Strategy prior to the public consultation on the draft budget in December be approved.

 

           

REASON FOR DECISION: To agree the form of consultation and begin the process of setting the budget for 2022/23.

 

Minutes:

Lee Colyer, Director of Finance, Policy and Development introduced the report as set out in the agenda.

 

Discussion and questions from Members included the following:

 

-       TWBC were congratulated for balancing the budget last year and for reducing the forecast deficit from £3m to £1.8m.

-       Quarterly reports would be brought to Cabinet that would provide details of actual income expenditure.  Any need for additional growth or financial support would be included in those reports.

-       An update on car parking revenue would come forward as part of the Quarter 1 Revenue Management Report.  However, there were some tentative signs of encouragement of car park usage.  The budgets had already been reduced for car park income, and the Council were in line with those figures.

-       Use of car parks were mixed. Crescent Road and the surface car parks were doing relatively well.  Royal Victoria Place and Meadow Road were not faring as well. It was therefore important for TWBC to continue to monitor footfall as the economy continued to open up.

-       Season ticket sales were not at the level hoped for and certainly not at pre covid levels.  This was because office workers had not returned.  However the situation was evolving and it was hoped that as confidence grew, employers would encourage their employees to return to their offices. 

 

RESOLVED –That work continues towards reducing the projected budget deficit in line with the Budget Strategy prior to the public consultation on the draft budget in December be approved.

           

REASON FOR DECISION: To agree the form of consultation and begin the process of setting the budget for 2022/23.

 


Meeting: 13/07/2021 - Finance and Governance Cabinet Advisory Board (Item 21)

21 Budget Projection and Strategy 2022/23 pdf icon PDF 346 KB

To consider and provide a recommendation to Cabinet on the proposals set out in the attached report.

Additional documents:

Minutes:

Jane Fineman, Head of Finance, Procurement and Parking introduced the report set out in the agenda.

 

Discussion and questions from Members included the following:

 

-       A full set of benchmarking data was not available at the meeting.  This would be sent after the meeting.

 

 

RESOLVED – That the recommendations to Cabinet as set out in the report be supported.