Financial Monitoring 2014/15 (Month 7) - Revenue
Decision Maker: Cabinet
Decision status: For Determination
Is Key decision?: Yes
Is subject to call in?: Yes
Update on the revenue and capital spending against the agreed budget
Councillor Phil Davies introduced a report by the Director of Resources which set out the revenue position for 2014/15, which at Month 7 (October 2014) showed a projected General Fund overspend of £2.25 million (0.8% of the net revenue budget). This was an improvement compared with a projected overspend reported at month 6 of £2.69 million as detailed in graph 1. The Cabinet noted that the improvement was largely a result of an increased projected underspend within Regeneration and Environment which was due to savings made in advance and efficiencies from supporting people contracts.
The Cabinet was informed that the projected overspend originated, in the main, from the Families and Wellbeing Directorate. Adult Social Services continued to project a £2.7 million overspend. This was mainly due to slippage or non-delivery of in year savings and demand pressures. The Children’s area of the Directorate was also forecasting an overspend of £552,000. This was largely due to the non-achievement of in year transport savings as well as costs of external placements. A series of management actions were taking place within the Directorate to help compensate and/or limit any variances.
Councillor Davies informed that he was glad that the Council was continuing to drive down overspend. It was now standing at £2.25 million as opposed to £17 million in 2012. He thanked Cabinet Members and Officers for their efforts in bringing this about.
(1) in Month 7 (October 2014), it be noted that the full year forecast projects a gross General Fund overspend of £2,249,000; and
(2) the risks relating to non delivery of savings as detailed within the report and the continued requirement for mitigation and actions to be identified be noted.
Publication date: 15/12/2014
Date of decision: 09/12/2014
Decided at meeting: 09/12/2014 - Cabinet
Effective from: 23/12/2014