Decision Maker: Cabinet
Decision status: Recommendations Approved
Is Key decision?: Yes
Is subject to call in?: Yes
The Cabinet gave consideration to a report of the Director of Finance which provided Members with an update on the Council’s 2017/18 revenue budget position and the financial position of the capital programme as at 31 December 2017, together with the revised capital programme 2017/21.
The current forecast outturn position for 2017/18 was a projected favourable variance of £0.146m after allowing for approved and pending transfers to and from reserves.
Corporately, whilst there was a projected underspend at the end of the financial year, it was key to note the fluctuations contained within the net position. There were 2 portfolios: Health and Wellbeing and Economy, Skills and Neighbourhoods with adverse variances, the most significant being that of Children’s Social Care within Health and Wellbeing, a demand led service that was under pressure to deliver within the current budget allocation.
There was a projected overspend of £3.882m within the Health and Wellbeing Portfolio attributable in main to Children’s Social Care and a reported pressure of £0.655m within the Economy, Skills and Neighbourhoods Directorate.
The total forecast overspend within the Health and Wellbeing and Economy, Skills and Neighbourhoods portfolios was being offset by a projected underspend of £4.413m within Capital, Treasury and Corporate Accounting.
The most up to date capital spending proposals for 2017/21 were provided to Members. The revised Capital programme budget was £25.490m at the close of quarter 3, a net decrease of £10.393m from the revised budget at month 8 of £35.882m. Actual expenditure to 31 December 2017 was £17.416m (68.15% of forecast outturn).
It was reported that at this stage in the financial year, the forecast position would continue to change with additional re-profiling into future years.
Option 1 – To approve the forecast revenue and capital positions presented in the report including proposed changes.
Option 2 – To approve some of the forecasts and changes detailed within the report.
Option 3 – Not to approve any of the forecasts and changes detailed within the report.
RESOLVED – That:
Publication date: 27/03/2018
Date of decision: 26/03/2018
Decided at meeting: 26/03/2018 - Cabinet
Effective from: 04/04/2018