This report provides an updated forecast for 2021/22 and seeks the Joint
Management Committee’s approval of both the 2022/23 budget and the recommended precept to be levied on the constituent authorities.
The Committee received a report providing an updated forecast for 2021/22 and seeking the Joint Management Committee’s approval of both the 2022/23 budget and the recommended precept to be levied on the constituent authorities.
The following matters were considered by the Committee:
a) Increase in the price of electricity/gas: the Committee noted that currently, these costs are fixed at a favourable rate, and that the proposed increase in Council contributions of 3.1% is expected to be sufficient for 2022/23. It was, however, acknowledged that this is a risk area due to volatility in the global environment, which is unpredictable and will be monitored. It was also noted that most costs for electricity/gas are re-charged to tenants. Should costs remain high or increase further, the impact will be reported through budget monitoring and if necessary, addressed in the 2023/24 budget.
Following consideration, it was resolved to:
(1) Note the latest 2021/22 forecast position;
(2) Agree the revenue budget for 2022/23 as set out in Appendix 1 of the report;
(3) Agree to seek contributions of £106,640 from both Epsom and Ewell Borough Council and the London Borough of Sutton for the financial year 2022/23.