Decision Maker: Cabinet
Decision status: Recommendations Approved (subject to call-in)
Is Key decision?: Yes
Is subject to call in?: Yes
To present Cabinet with the latest finance exception report, i.e. to advise Cabinet of any latest material financial changes and identify any additional financial approvals that are required.
That Cabinet Approved:
• The acceptance and adjustment to the Council budget for the grants as outlined in Appendix A Section 7:
• Funding from the Department of Health and Social Care of £0.431m for 2022/23 in relation to the Transforming Care Partnership.
That Cabinet noted:
• The General Fund risk adjusted forecast overspend of £13.2m, noting further mitigations are being explored.
• A forecast overspend of £1.8m within the HRA (with actual end of year position being funded by a transfer to or from the HRA general reserve).
• A forecast in-year deficit of £18.1m accumulating to a total £42.7m carried forward deficit in the DSG for 2023/24, and that the Council and the Schools Forum are developing a mitigation plan which will seek to address the High Needs overspend.
• A forecast £37.7m underspend (£3.5m underspend for the General Fund and a £34.2m underspend on HRA) against the latest approved Capital Programme’s Budget.
Report author: Denise Murray
Publication date: 02/08/2022
Date of decision: 02/08/2022
Decided at meeting: 02/08/2022 - Cabinet
Date comes into force if not called in: 10/08/2022
Call-in deadline date: 09/08/2022