Division/Wards Affected: All

Purpose:To set out draft revenue and capital budget proposals for financial year 2023/24.

To commence a period of consultation on draft budget proposals for a four-week period ending 16th February 2023.

Author: Peter Davies, Deputy Chief Executive (S151 Officer)

Jonathan Davies, Head of Finance (Deputy S151 Officer)

Contact Details:peterdavies@monmouthshire.gov.uk; jonathandavies2@monmouthshire.gov.uk

That Cabinet approves the release of its draft revenue budget proposals for 2023/24 for consultation to run until 16th February 2023.

That Cabinet notes the positive implications arising out of the provisional budget announcement of Welsh Government and agrees the response outlined at appendix 4.

That Cabinet approves the release of its draft capital budget proposals for 2023/24 and indicative capital budgets for 2024/25 to 2026/27 as set out in appendix 8 for consultation to run until 16th February 2023.

That Cabinet agrees that immediate capital pressures identified for 2023/24 highlighted in figure 6 and in appendix 1 are funded from re-purposing existing capital budgets.

That Cabinet recommends the use of £3.0m of capital receipts to fund revenue costs associated with service reform that support the draft revenue budget proposals