The North Wales Corporate Joint Committee (CJC) Economic Well-being Sub-committee convened a virtual meeting via Zoom to address a range of financial, performance, and strategic issues. The agenda included a review of the 2025/26 revenue and capital budget, a performance and risk report for the first quarter of the financial year, and several project-specific updates and requests. Discussions also focused on the appointment of non-executive advisors and change requests for various projects within the North Wales Growth Deal¹.

2025/26 Revenue and Capital Budget Review

The sub-committee was scheduled to review the 2025/26 revenue and capital budget, with Dewi Morgan, Head of Finance, and Sian Pugh, Assistant Head of Finance, presenting the report. The report highlighted a projected full-year underspend of £280,562 against the revenue budget, which was mainly attributed to underspends in employee expenditure, additional government roles, and accountable body support services.

It is estimated that the net out-turn position at the end of the 2025/26 financial year will be an underspend of £280,562. This is mainly due to underspends in employee expenditure, additional government roles and accountable body support services. Ambition North Wales was also successful in its Shared Prosperity Fund application which has further contributed to the underspend in employee expenditure.

-- 2025/26 Revenue Position – End of July 2025 Review

The report also provided a detailed analysis of the Economic Well-being Sub-committee's actual expenditure and income per heading up to the end of July 2025, along with a projected full-year out-turn against its annual budget. The sub-committee was asked to note the revenue end of July 2025 review, including the virement² in the budget relating to grant income and expenditure, and the reserves position.

Q1 2025/26 Performance and Risk Report

Hedd Vaughan-Evans, Head of Operations, was scheduled to present the Quarter 1 Performance and Risk Report. This report provided an overview of progress on the Growth Deal programmes and projects. Key points from the report included:

• The transfer of the Portfolio Management Office Team and the Growth Deal to the North Wales Corporate Joint Committee under the brand name Ambition North Wales.
• Approval of two Full Business Cases for the 4G+ Project and the Smart Local Energy project (now named the Clean Energy Fund), and approval for Theatr Clwyd Business Justification Case, part of the Tourism Talent Network project.
• The completion and signing of the loan agreement for the Cydnerth project between Ambition North Wales and Menter Môn³, with the first drawdown of funding processed.
• A Portfolio Review focusing on projects reporting red or amber, leading to decisions to withdraw certain projects from the Growth Deal and move others to the reserve list.
• An agreement to invite 17 projects to join the Growth Deal Reserve List following an Expression of Interest process.
• An agreement on a Streamlined Assurance and Approval process with the Welsh and UK Governments.

The report also included an updated Portfolio Risk Register for June 2025, which identified key risks and mitigating actions.

The sub-committee was asked to consider and note the Quarter 1 Performance Report and updated Portfolio Risk Register, and to approve the submission of the report to the Welsh Government, UK Government, and local authority scrutiny committees.

Appointment of Non-Executive Advisors

Alwen Williams, CJC Chief Executive / Portfolio Director, was scheduled to present a report on the appointment of Non-Executive Advisors. The report detailed the process for the recruitment and appointment of these advisors, in accordance with the requirements of the Procurement Act 2023 and related regulations.

Former North Wales Hospital – Change Request

David Mathews was scheduled to present a report regarding a change request for the Former North Wales Hospital. Further details of this request were not made public.

Project Prince – Outline Business Case

Elliw Hughes was scheduled to present the Outline Business Case for Project Prince. Further details of this project were not made public.

Society 5.0 Manufacturing and Business Capability Project – Business Justification Case Plus (BJC+)

Elliw Hughes was also scheduled to present the Business Justification Case Plus (BJC+) for the Society 5.0 Manufacturing and Business Capability Project. Further details of this project were not made public.

North Anglesey Sites and Premises Project - Business Justification Case+

David Mathews was scheduled to present the Business Justification Case+ for the North Anglesey Sites and Premises Project. Further details of this project were not made public.

Freeport Gateway Project - Business Justification Case+

Finally, David Mathews was scheduled to present the Business Justification Case+ for the Freeport Gateway Project. Further details of this project were not made public.