Issue - decisions

Quarter 1 Monitoring Report

10/10/2018 - Revenue Budget Monitoring 2018/19 Quarter 1 to end June 2018

1) The forecast outturn position for 2018/19 was noted:

 

(a) An overspend of £4,980,800 before further forecast transfers from/(to) Portfolio Specific Reserves & Ring Fenced Public Health Reserve

(b) An overspend of £3,366,400 after further forecast transfers from/(to)

Portfolio Specific Reserves & Ring Fenced Public Health Reserve.

 

(2) Members noted that any actual overspend at year end will in the first instance be deducted from any Portfolio Specific Reserve balance and once depleted then be deducted from the 2019/20 Cash Limit.

 

(3) Members noted that the overall financial forecast for Quarter 1 for the whole Council is a serious cause for concern with significant forecast overspends in the highest spending areas of Children's and Adult Social Care which in aggregate amount to £8,223,600 and the extent to which this cannot be remedied in the medium term will add to the Council's £4m per annum savings requirements for future years.

 

(4) Directors, in consultation with the appropriate Cabinet Member, will consider options that seek to minimise any forecast overspend presently being reported and prepare strategies outlining how any consequent reduction to the 2019/20 Portfolio cash limit will be managed to avoid further overspending during 2019/20.