Issue - meetings

That:

1)        the forecast outturn position of the revenue budget and the level of balances in respect of the General Fund, Housing Revenue Account, Schools’ Block and the Authority’s investment portfolio be noted;

2)        the potential General Fund carry forward requests of £95k, as set out in Appendix B to the report, be noted;

3)        the supplementary estimate of £300k from General Fund for various key People Services programmes be agreed.

The Executive considered a report setting out the forecast outturn position of the revenue budget and the level of balances in respect of the General Fund, Housing Revenue Account, Schools’ Block and the Council’s investment portfolio.  Information on proposed General Fund carry forward requests and a supplementary estimate of £300k to fund various key People Services programmes were also included in the report.

The Executive Member for Finance advised the meeting that the General Fund was forecasting an overspend of £159k against a planned spend of £130m and pressures were being seen in adult social care packages, agency staffing across social care, home to school transport and virtual school services in learning and achievement which provided personal education plans for children in care.  An additional £300k was being requested to fund social care Deprivation of Liberty and multi-agency safeguarding.

It was noted that the £159k overspend, the additional £300k requested and the £878k carry forward from the previous financial year could be accommodated as the General Fund had started the year with a balance of £10.063m and was forecasted to stand at £8.699m at the end of the year.

Councillor Whittle also advised that the Housing Revenue Account was forecasting a net underspend of £2k for the year and a year end balance of £4.052m with the Schools Block showing an overspend of £385k which related to the high needs block overspending due to new commitments for Oak and Northern house out of Borough recoupment.

RESOLVED that:

1)        the forecast outturn position of the revenue budget and the level of balances in respect of the General Fund, Housing Revenue Account, Schools’ Block and the Authority’s investment portfolio be noted;

2)        the potential General Fund carry forward requests of £95k, as set out in Appendix B to the report, be noted;

3)        the supplementary estimate of £300k from General Fund for various key People Services programmes be agreed.