Decision details

The report was introduced by Beverley Pennekett, Finance Manager, who highlighted the following matters:

·      That a year-end overspend of £209k was forecast at the end of the third quarter.

·      The service commenced the year with a portfolio reserve of £437k, against which there were commitments of £216k. The remaining £221k was intended to contribute towards potential pressures during 2018/19.

·      The Education budget at the third quarter stood at £4.39m, a decrease of £1m on the second quarter. This was the result of necessary cash limit adjustments to reflect the contribution to capital programme of £1m that was funded from the Dedicated Schools Grant (DSG).

·      Home to school transport continued to provide a significant budget pressure, with a projected overspend of £300k. 

DECISION:

The Cabinet Member noted the Education Portfolio forecast revenue and capital budget positions, as at the end of December 2018, together with the variance and pressure explanations.