Agenda item

Report of the Chamberlain and the Markets Director.

Members received a joint report of the Chamberlain and the Markets Director relative to the Revenue and Capital Budgets 2023/24.

RESOLVED, that – Members:

1. note the latest revenue budget for 2022/23 for Markets Board;
2. approve the Markets Board draft revenue budget for 2023/24 for submission to Finance Committee;
3. approve the Markets Board draft capital and supplementary revenue projects budgets for 2023/24 for submission to Finance Committee;
4. note that the draft budget does not include the estimated increases in energy costs which are currently being reviewed in light of changing market prices with budgets to be adjusted once a final agreement on energy forecasts are made;
5. agree that amendments for 2022/23 and 2023/24 budgets arising from changes to recharges or for any further implications arising from Corporate Projects, energy price increases and other reviews and changes to the CWP and capital charges during budget setting be delegated to the Chamberlain in consultation with the Chief Operating Officer