4 2022/23 Budget and Business Planning PDF 488 KB
To consider and approve the interim budget for 2022/23: to note the process for preparing the full budget for 2022/23
Lead: Paul Kelly
4.1 Members received the report of the Interim Finance Director. Before highlighting the key points in the report the Chief Executive updated the Board on the current position in relation to the budget and Business Planning process.
The Chief Executive stated that the process was progressing based on the steer provided at the February Board Consultation Call: he explained that activities would be prioritised based on the funding available as well as TfN’s strategic role.
He highlighted the importance of TfN’s statutory role in setting a strategy, one that is underpinned by the regional evidence base. He continued by noting the work required to update the Independent Economic Review, in addition to the update of the Strategic Transport Plan itself, noting how these will be used to shape advice to Government and national agencies in respect of the North’s strategic investment programme.
He further highlighted the importance of TfN’s analytical team and its contribution at the heart of TfN’s work. He emphasised the importance of strengthening relationships with partners such as Network Rail and National Highways, including looking to draw on their knowledge/insight more overtly at times. He also noted that as TfN partners they would be able to draw on TfN’s analytical and evidence-based work in this way achieving a consistent/common base-line upon which proposals are developed.
He went on to inform the Board that he was currently prioritising proposed activities and once completed he would undertake an organisational redesign to reflect these activities. The Board was also informed that the window for officers to submit an application for voluntary redundancy was open until 1 April.
The Chief Executive highlighted two risks that the executive was currently managing. The first relates to the Grant Funding Arrangement between TfN and the Department. He stated that progress had been slower than anticipated on this, but he was hopeful that this would be resolved as soon as possible. The second risk relates to the funding settlement being for only a one-year period. Whilst being consistent with how funding has been allocated to local authorities, he noted that for TfN this makes future business planning more difficult; he explained to the Board that he was working with the Department for Transport officials in relation to what might be reasonable planning assumptions beyond the first year.
The Chief Executive informed the Board that he would like to have an informal discussion with Members towards the end of April to update them on progress with the business plan with a view to getting an informal steer before preparing the Budget paper for approval at the June Board.
4.2 Members acknowledged the challenging time that TfN is experiencing and thanked officers for their continued hard work.
4.3 Mayor Jarvis highlighted the importance of maintaining a focus on the importance of the ‘One Voice’ remit. In this context he flagged the importance of the Communications and Engagement plan reflecting that remit and objectives for the Chair to be included in order to ensure that there is resource ... view the full minutes text for item 4