Decision details
Budget Proposals for Year 2023/2024
Decision status: Recommendations Approved
Decision:
9.1 |
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.
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9.2 |
RESOLVED UNANIMOUSLY: That the Economic Development and Skills Policy Committee:-
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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. |
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9.3 |
Reasons for Decision |
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9.3.1 |
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. |
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9.3.2 |
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. |
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9.3.3 |
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. |
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9.3.4 |
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. |
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9.4 |
Alternatives Considered and Rejected |
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9.4.1 |
Do nothing
By undertaking none of the proposed actions, we would be unable to contribute to delivering a balanced budget. |
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9.4.2 |
Deliver Balanced Budget
Make further savings by accepting the options, currently rejected, by the Committee. |
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9.4.3 |
Offer greater budget savings by stopping services
Make further savings by stopping non statutory services. |
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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:
- Report to EDS Cttee - Budget options 23 24 Final PDF 582 KB
- Appendix 1 - LLS EIA - Budget 2022_23 v2 PDF 149 KB
- Appendix 2 - EIA - Recharge of salary CS Aug 22 PDF 141 KB
- Appendix 3 - EIA activity budget cut AUG22 (003) PDF 139 KB
- Appendix 4 - EIA 1237 strategic events budget cut AUG22 PDF 142 KB
- Appendix 5 - EIA 1238 cessation of DMO membership FINAL PDF 165 KB
- Appendix 6 - EIA business advisor budget cut AUG22 PDF 156 KB