Modern.gov Breadcrumb
- Decision details
Modern.gov Content
Decision details
Financial update report - August 2022
Decision Maker: Cabinet
Decision status: Recommendations Approved (subject to call-in)
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 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
Accompanying Documents: