Decision Maker: Cabinet
Decision status: Recommendations Approved
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.
1. Approved to accept the DHLUC, Local Authority Housing Fund (LAHF) allocation of c.£4.18m capital grant funding and to revise Capital Programme budgets accordingly. Details are as set out in Appendix A2.
2. Approved to accept Drug Strategy Housing Support Fund revised allocation of £1.419m grant funding and to adjust Revenue budgets accordingly. Details are as set out in Appendix A3.
3. Approved to accept the Get Councils Building HE Grant and to revise Capital programme budgets accordingly for utilisation of the £100,000 grant. See Appendix A5.
4. Approved to accept the additional Adult Social Care grant funding allocation of £462,219 and to adjust revenue budgets accordingly. Details are as set out in Appendix A6.
5. Noted the General Fund risk adjusted forecast overspend of £15.0m, and residual gap of £8.2m following latest approved supplementary estimates noting the position will continue to be closely monitored and mitigations explored; however, it is likely that a further Supplementary Estimate may be required prior to the end of the financial year and should this be required appropriate approvals will need to be sought from Cabinet / Council.
6. Noted the forecast overspend of £6.4m within the HRA (with actual end of year position being funded by a transfer to or from the HRA general reserve).
7. Noted the forecast in-year deficit of £17.4m accumulating to a total £42.0m 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.
8. Noted the forecast £25.4m underspend (excluding corporate contingencies), £16.1m within the General Fund and £9.3m within the HRA against the latest approved Capital Programme’s Budget.
9. Noted the utilisation of capital financing budget surplus to fund the Digital Transformation Programme spend 2022/23, and Transformation resources earmarked within the flexible use of capital receipt strategy and thereafter the wider revenue budget.
10. Noted the delivery model for the new Energy Bill Support Scheme Alternative Funding Grant (EBSS AF) of £1.9m Further details set out in Appendix A4.
Report author: Denise Murray
Publication date: 07/03/2023
Date of decision: 07/03/2023
Decided at meeting: 07/03/2023 - Cabinet
Effective from: 15/03/2023