Issue - meetings
Financial Monitoring - Revenue (Month 9)
Meeting: 10/02/2015 - Cabinet (Item 139)
139 Financial Monitoring - Revenue (Month 9) PDF 225 KB
Minutes:
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.
RESOLVED: That
(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.
Meeting: 18/02/2013 - Cabinet (Item 205)
205 Financial Monitoring - Revenue (Month 9) PDF 398 KB
Minutes:
A report by the Interim Director of Finance set out the revenue position for 2012/13 as at Month 9 (December 2012). It identified the latest financial projections and prioritised the risks for ongoing management actions, to ensure any year end overspend was minimised.
RESOLVED: That
(1) it be noted that at Month 9 (December 2012), the full year forecast projects a potential General Fund overspend of £7.9m;
(2) it be noted that there are no rejected freeze items in the month; and
(3) it be noted that
· a major risk continues to exist concerning the reliability of fees and charges income, going back many years.
· corrective action is being taken to maximise recovery; and
· as better information becomes available, there will be further reports regarding this serious matter.