Issue - meetings

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.