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Financial Update Report - July 2022
Meeting: 12/07/2022 - Cabinet (Item 21.)
21. Financial update report - July 2022 PDF 591 KB
Additional documents:
- P02 Appendix A - Revenue Budget Monitoring, item 21. PDF 892 KB
- P02 Appendix A1 - People, item 21. PDF 909 KB
- P02 Appendix A2 - Resources, item 21. PDF 665 KB
- P02 Appendix A3 - Growth & Regeneration, item 21. PDF 790 KB
- P02 Appendix A4 - HRA, item 21. PDF 603 KB
- P02 Appendix A5 - DSG, item 21. PDF 498 KB
- P02 Appendix A6 - Public Health, item 21. PDF 537 KB
- Appendix A7 2022-23 Capital Summary P2 Qtr1 Hardclose Report 14 06 22, item 21. PDF 130 KB
- Appendix A8 BCC Service Investments Appendix, item 21. PDF 597 KB
Decision:
That Cabinet Approved:
• The acceptance and adjustment to the Council budget for the following grants as outlined in Appendix A Section 12: - Adult Social Care Charging Reforms - £0.101m
That Cabinet noted:
• The General Fund risk adjusted forecast overspend of £15.2m, noting that if overspends against the agreed budgets emerge, Executive Directors will be required to develop and implement plans to mitigate overspends within 2022/23, in consultation (where required) with elected Members.
• A forecast overspend of £1.2m within the HRA and that over or under spends that materialise on the HRA will be funded by a transfer to or from the HRA general reserve at the end of the financial year.
• A forecast in-year deficit of £15.6m accumulating to a total £40.3m 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 £33.5m underspend (£8.0m overspend for the General fund and a £41.5m underspend on HRA against the latest approved Capital Programme’s Budget.