Decision details

That Cabinet noted:

•        The General Fund forecast £12.1m adverse outturn variance against the approved budget for 2023/24.

•        The performance on delivery of savings (as summarised in Section 3 in Appendix A).

•        The General Fund additional net risk of £11.9m against which Executive Directors plan to mitigate in full (as summarised in Section 4 in Appendix A).

•        The progress made across directorates in identifying funds to be held in abeyance to mitigate the forecast outturn variance, as summarised in Section 5 in Appendix A).

•        A forecast overspend of £2.7m within the HRA and that over- or under-spends that materialise on the HRA will be funded by a transfer from or to the HRA general reserve at the end of the financial year.

•        A forecast in-year deficit of £18.7m accumulating to a total £58.3m carried forward deficit in the DSG for 2023/24, and the requirement for the Council and the Schools Forum to work together to develop a clear mitigation plan which addresses the High Needs overspend.

•        A breakeven position on Public Health services.

•        A forecast £60.1m underspend (including £48.5m underspend for the allocated General fund and a £6.1m underspend on HRA) against the revised Capital Programme’s Budget

•        The Changing Futures Programme application for and acceptance of external funding (section 8.1 and Appendix A2).

•        The urgent key decision for Emergency Temporary Accommodation For Afghan Refugees (section 9.1 and Appendix A3).

That Cabinet approved:

•        The transfer of those funds to be held in abeyance (section 5) to a Corporately held Earmarked Reserve.