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Agenda item

2017/18 Budget Monitoring Report - Period 3

To inform Cabinet of the Council’s overall financial performance against revenue and

capital budgets resulting from the second progress report, as at the end of June 2017




1) To note the contents of this report, specifically the projected outturn position at period 3 2017/18 of £8.5m, and work in progress to develop a package of proposed management actions to mitigate overspends (Section 3 & 11), projected delivery against planned efficiency savings (Section 8), movement in the Capital Programme of £10.1m, movement on reserves (Section 9) and the current Aged Debt Analysis (Section 10).


2) To note the seriousness of school reserves as at 31 March 2017, forecasted outturn of the Dedicated Schools Grant and an anticipation that a number of schools will be in a deficit position by end of 2017-18 (Section 5).


3) To note that Strategic Directors / Service Directors will continue to review the levels of over and underspends and reallocate budgets to remain within the directorate service allocations for 2017/18 and hold funds in ‘abeyance’ to assist in offsetting the overspends should the mitigation action not have the desired impact. A further update will be brought back to Cabinet for its meeting of the 19th September.

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