Agenda item

1. Cabinet approved changes to Capital programme budget since P7 (additional £9.5m added in total, please see details listed under Appendix B).

2. Cabinet approved further budget alignment of the Capital Programme to the actual forecast, and re-profile the reported underspend of £22m at P8 from 2019/20 to later years.

3. Cabinet approved the transfer of £0.38m one-off funding from the Mayors savings consultation reserve to the Community budget within Commercialisation and Citizens to offset the impact of savings scheme FP01- Review and reduce spend on service provided by external partners in 2019/20.

4. Cabinet approved the creation of a specific reserve of £2m for Key Line of Business and System / Project Development from the existing Business Transformation reserve detailed under Section 4 Appendix A, with authority delegated to the Deputy Mayor, Cabinet Member for Finance, Governance and Performance in consultation with the Director of Finance for the allocation of the funds below key decision values to the specific propositions.

5. Cabinet noted a risk of overspend on General fund services of £6.5m for 19/20 representing 1.7% of the approved budget (Appendix A), supplementary estimates requests will be expected to balance the 2019/20 in-year position.

6. Cabinet noted the full mitigation of the 2019/20 £0.38m Third Party budget savings impacting on the Community budget within Commercialisation and Citizens will be proposed in the annual 2020/21 budget.

7. Cabinet noted forecast £2.1m underspend position with regard to the Housing Revenue Account and any underspend at year-end will be carried forward and built into the future programme.

8. Cabinet noted a forecasted £1.0m overspend for the Dedicated Schools Grant against approved budget.

9. Cabinet noted a risk of overspend of £0.1m for Public health, which if materialises will be funded from a drawdown from the PH reserve.

10. Cabinet noted the Sundry Debt position of £20.5m over 90 days as at Period 8, slightly reduced from £20.9m since P7. Individual directorate detail included under Appendix A1-6.