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Decision details

Budget Proposals for Year 2023/2024

Decision status: Recommendations Approved



The report set out the budget pressures and risks facing the services that are the responsibility of the Economic Development and Skills Policy Committee (EDSC), and a budget action plan to mitigate these as far as possible in the 23/24 financial year.


It provided recommendations for approval which will allow the services to contribute to Sheffield City Council’s ability to set a balanced budget.



RESOLVED UNANIMOUSLY: That the Economic Development and Skills Policy Committee:-



1.    Note the Council’s challenging financial position;


2.    Note the pressures and risks identified in relation to the Economic Development and Skills Policy Committee budget for the 23/34 financial year and commit to work with officers to mitigate these risks where possible;


3.    Note the work undertaken over the summer to develop the Budget Action Plan; and


4.    Approve the budget action plan to deliver savings for 23/24 of £525K, against a pressure of £595K, for submission to the Strategy and Resources Policy Committee.




Reasons for Decision




A balance has been sought to strike a balance between meeting the budget challenges in Committee and still delivering as much impact as possible for Sheffield’s economy and residents in line with the priorities set in the one-year plan and Business Recovery Plan. The contribution and commitment of the Service in supporting the city economy through covid has been noted, and losing the momentum built as we face a cost-of-living crisis would be damaging to the broader City economy.




Furthermore, removal of the services and budgets would also dramatically reduce the City’s ability to bid for and win external funding, which maximises the Council’s investment.




This is the preferred option as it allows the Committee to contribute substantially to the Council’s budget position. Further options can be considered by Strategy and Resources Committee with the EDSC, as the range of options across all Committees are considered together.




In setting this Budget Action Plan the intended outcome is to continue to deliver services which are pivotal to economic development within the city and support the wider regional economy and maximise our limited financial resource by working in partnership and bringing in external funding.




Alternatives Considered and Rejected




Do nothing


By undertaking none of the proposed actions, we would be unable to contribute to delivering a balanced budget.




Deliver Balanced Budget


Make further savings by accepting the options, currently rejected, by the Committee.




Offer greater budget savings by stopping services


Make further savings by stopping non statutory services.




Publication date: 20/09/2022

Date of decision: 07/09/2022

Decided at meeting: 07/09/2022 - Economic Development and Skills Policy Committee

Accompanying Documents: