Issue - meetings

RESOLVED

That the Executive:

a)    Noted the Council’s forecast outturn position for 2022/23 as summarised in Section 4, alongside the further analysis, risks and other considerations as set out in Section 5 and Section 6 of the report.

b)    Noted the assessment of the current deliverability of the 2022/23 savings proposals in Appendix A of the report.

Reason for Recommendations – to note the forecast financial position for 2022/23 as at Period 9 and consider the impact on this year and future years budgets.

Alternative Options Considered: The report focuses on the forecast revenue outturn against budget for 2022/23 and makes recommendations for the Executive to note the current budgetary position as such there are no specific choices within the report.

The Chair invited Cllr Lloyd Bunday, Executive Member for Finance and Transformation introduce a report that set out the forecast outturn position for the Council based on the Period 9 monitoring forecasts for the General Fund and the Housing Revenue Account (HRA).

The meeting heard that the overall outturn forecast for the General Fund for 2022/23, as at Period 9 was a forecast overspend of £5.242m, a favourable movement of £510,000 since the last report to Executive. It was reported that the main pressures included a number of vacant posts in Children’s Services being filled by agency staff to allow continuity of service, and the ongoing overspend of the Children’s Trust totalling £12.653m and showing an increase of £900,000 since the last reporting period. The cost to the Council of this overspend was £5.588m.

The meeting heard that additional rental income of £290,000 had been received, alongside a grant for subsidised bus services totalling £199,000. Interest receivable was £1.1m above the amount budgeted for and a further £100,000 saving had been identified in regard to the Internal Audit service.

Cllr Bunday reported that the Housing Revenue Account had a current overspend totalling £154,000, the main pressure being the recent pay award.

It was noted that although the Council maintained reserves to call on for any overspend remaining, it continued to look to achieve in-year mitigations in the first instance. The impact of inflation and changes within demand-led services were an ongoing challenge as the Council continued to seek to balance its finances whilst maintaining services for its most vulnerable residents.

Cllr Harrison spoke to note the excellent work achieved in Adult Services by managing to deliver a balanced budget and in-year savings while facing an increase in demand-led services. Cllr Harrison offered her thanks to the Executive Director of Adults, Health Partnerships and Housing and the Finance Team in this regard.

RESOLVED

That the Executive:

a)    Noted the Council’s forecast outturn position for 2022/23 as summarised in Section 4, alongside the further analysis, risks and other considerations as set out in Section 5 and Section 6 of the report.

b)    Noted the assessment of the current deliverability of the 2022/23 savings proposals in Appendix A of the report.

Reason for Recommendations – to note the forecast financial position for 2022/23 as at Period 9 and consider the impact on this year and future years budgets.

Alternative Options Considered: The report focuses on the forecast revenue outturn against budget for 2022/23 and makes recommendations for the Executive to note the current budgetary position as such there are no specific choices within the report.