Financial Monitoring - Revenue (Month 9)
Decision Maker: Cabinet
Decision status: Recommendations Approved
Is Key decision?: No
Is subject to call in?: Yes
Update on the revenue spending against the agreed budget
Councillor Phil Davies introduced a report by the Acting Section 151 Officer, setting out the revenue position for 2014/15, which at Month 9 (December 2014) showed a projected General Fund overspend of £0.82 million (0.3% of the net revenue budget). This was a small improvement on the £0.85 million projected overspend reported at Month 8 as shown in Graph 1 of the report.
The report indicated that the Adult Social Services projected overspend had increased in the month by £52,000 to £2.77 million. The overspend was mainly due to slippage or non-delivery of in year savings and continued demand pressures. The forecast overspend within Children’s Services had reduced further with a forecast overspend now of £196,000 (down from the Month 8 projection of £330,000). The overspend largely related to the non-achievement of in year transport savings as well as costs of external placements. The Families and Wellbeing Directorate had implemented a number of management actions to help compensate and/or limit any adverse variances.
Councillor P. Davies asked officers and Cabinet Members to bear down on any possible slippage in savings as it was important to balance the books.
(1) that at Month 9 (December 2014), the full year forecast projected a General Fund overspend of £825,000 be noted;
(2) the changes in budget allocations relating to the pay award, revised depreciation charges and re-modelling savings as detailed in paragraphs 2.1 and 2.2 in the report, which did not impact on the General Fund position; and
(3) the risks relating to non-delivery of savings as detailed in the report and the continued requirement for mitigation and actions to be identified be noted.
Publication date: 12/02/2015
Date of decision: 10/02/2015
Decided at meeting: 10/02/2015 - Cabinet
Effective from: 20/02/2015