To inform the Cabinet Member of the projected financial position for the portfolio revenue cash limit and capital programme for the current financial year 2018-19. This report sets out the budget position and contributing factors to the projected spend within the portfolio as at the end of September 2018.
That the Cabinet Member notes the Education Portfolio forecast revenue and capital budget positions, as at the end of September 2018, together with the variance and pressure explanations.
The report was introduced by Beverley Pennekett, Finance Manager. She highlighted that the current forecast was for the total portfolio spending to be £248k in excess of the revenue budget provision. Expected pressures on school transport were partially offset by staffing savings, staff turnover and a small operational underspend. The capital programme was currently forecasting a small underspend on the approved capital budget of £86.9m, although this would be reallocated to other priority schemes as the need arose.
Decision: The Cabinet Member noted the report.