Agenda item

Report of the Strategic Director of Finance and Customer Services

Recommendations:-

1.    That the current General Fund Revenue Budget forecast of £3.1m overspend be noted.

2.    That it be noted that actions will continue to be taken to mitigate the forecast overspend.

3.    That the Capital Programme update be noted.

Consideration was given to the report which set out the financial position as at the end of January, 2020 and was based on actual costs and income for the first ten months of 2019/20 and forecast for the remainder of the financial year.  Financial performance was a key element within the assessment of the Council’s overall performance framework and essential to achievement of the objectives within the Council’s Policy Agenda.  To that end, this is the fifth in a series of monitoring reports for the current financial year which will continue to be brought forward to Cabinet on a regular basis.

As at January 2020, the Council has a forecast year-end overspend of £3.1m on the General Fund.

The issues and reasons behind that overspend were unchanged from previous reports and all services have been continuing to improve that position with an improved position in Adult Care and work was continuing to bring the overspend within the value of the reserve.

There were also a number of changes to the capital programme with actual delivery on schemes and timing, some of which may slip into a longer time frame.

It hoped that by year-end without significant impact in the current year's position the Council would need to focus on the year ahead.

Given the current situation, additional Government funding would also be available in the next financial year, which needed to be worked through.  Any additional costs were being logged and work was ongoing to analyse the latest guidance and how these hardship grants would be applied.

Resolved:-

(1)  That the current General Fund Revenue Budget forecast of £3.1m overspend be noted.

(2)  That actions continuing to be taken to mitigate the forecast overspend be noted.

(3)  That the Capital Programme update be noted.