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Financial Update Report - September 2022

 

 

Meeting: 06/09/2022 - Cabinet (Item 13.)

13. Financial update report - September 2022 pdf icon PDF 657 KB

Additional documents:

Decision:

That Cabinet noted:

•       The General Fund risk adjusted forecast overspend of £7.7m, noting further mitigations are being explored.

•       A forecast overspend of £1.4m 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 £19.6m accumulating to a total £44.2m 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 £40.5m underspend (£4.9m underspend for the General Fund and a £35.6m underspend on HRA) against the latest approved Capital Programme’s Budget.