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Budget Monitoring Outturn report P4 and P5
Decision:
Cabinet noted:
- Risks associated with the forecast outturn and the long-term financial impact on the Council as a result of COVID-19 pandemic.
- The £15.7m COVID 19 funding gap is indicative and will be amended to reflect the actual level of government funding received and local / national changes required in responding to potential local outbreaks.
- The estimated Collection fund deficit of £25.0m impacting in future years Appendix A, Section 3.5.
- A risk of non COVID-19 related overspend on General fund services, an overall forecast overspend of £7.1m for 20/21 at Period 5, representing 1.8% of the approved budget and that it is expected that the forecast overspend will be managed through management actions / mitigations through the rest of the financial year.
- Forecasts underspend of £1.6m with regard to the Housing Revenue Account.
- A forecast in-year deficit of £8.3m and a total £11.1m carried forward deficit in the ring fenced Dedicated Schools Account (DSG) and the significant deterioration in the forecast comparing to P3.
- A forecast overspend of £1.4m in Public Health mitigated by drawing down from the Public Health and PFI reserves.
- A forecast £66.8m underspend against the approved Capital Programme, which requires budget re-profiling at the end of P5.
Supporting documents:
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P05 Budget Monitoring Summary Report, item 16.
PDF 183 KB
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P05 Appendix A - Revenue Budget Monitoring, item 16.
PDF 168 KB
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P05 Appendix A1 - People, item 16.
PDF 252 KB
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P05 Appendix A2 - Resources, item 16.
PDF 286 KB
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P05 Appendix A3 - Growth and Regeneration, item 16.
PDF 384 KB
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P05 Appendix A4 - HRA, item 16.
PDF 150 KB
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P05 Appendix A5 - DSG, item 16.
PDF 103 KB
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P05 Appendix A6 - Public Health, item 16.
PDF 111 KB
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P05 Appendix B - Capital Budget Monitoring Report, item 16.
PDF 183 KB
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P05 Appendix B1 - Capital Programme Summary, item 16.
PDF 154 KB