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Decision details
Financial update report - September 2022
Decision Maker: Cabinet
Decision status: Recommendations Approved
Is Key decision?: Yes
Is subject to call in?: Yes
Purpose:
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.
Decision:
That Cabinet noted:
• The General Fund risk adjusted forecast overspend of £7.7m, noting further mitigations are being explored.
• A forecast overspend of £1.4m 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 £19.6m accumulating to a total £44.2m 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 £40.5m underspend (£4.9m underspend for the General Fund and a £35.6m underspend on HRA) against the latest approved Capital Programme’s Budget.
Report author: Denise Murray
Publication date: 06/09/2022
Date of decision: 06/09/2022
Decided at meeting: 06/09/2022 - Cabinet
Effective from: 14/09/2022
Accompanying Documents:
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