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Financial update report - August 2022
Meeting: 02/08/2022 - Cabinet (Item 12.)
12. Financial update report - August 2022 
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Additional documents:
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.