Issue - meetings
BUDGET MONITORING QUARTER 1
Nicholas Ajaegbu, Senior Finance Officer introduced the report of the Director of Children, Families and Education which set out the financial monitoring information for the Children, Young People & Education Committee as at quarter 1 (Apr – Jun) of 2021/22, with an overview of budget performance to enable Committee to take ownership of their specific budgets and provide robust challenge and scrutiny to Officers on the performance of those budgets.
The Committee was advised that as at the end of June 2021 (Quarter 1), the forecast year end position for Children, Families and Education showed a balanced forecast position. It was reported that the service continued to manage demand with financial pressures being mitigated by in-year cost savings and use of specific related reserves. In-year employee cost savings across the service had mitigated contractual cost pressures and contributed to the overall balanced position. Members’ attention was brought to the schools core, where there was an adverse variance of £0.223m due to the on-going annual costs that are being incurred in relation to the non-operational status of the Kingsway School building, but that this had been partly mitigated by an underspend in historic teacher’s pension costs.
The steps being taken to manage demand for services were queried, where it was reported that demand management was based on a range of preventative strategies, with one example being preventative measures in relation to Children Looked After which meant the numbers requiring care had not increased as in other authorities thus keeping costs down. Following a request, officers undertook to consider whether the profiled and actual expenditure could be included in future reports to provide members greater assurance that the reported forecasts would be reflected in the year-end position.
Resolved – That
the forecast year-end revenue position balanced forecast, as
reported at quarter 1 (Apr – Jun) of 2021/22 be noted.
the progress on the achievement of approved savings and the
year-end forecast position at quarter 1 (Apr – Jun) of
2021/22 be noted.
the reserves allocated to the Committee for future commitments
(4) the forecast year-end capital position of £4.970m favourable as reported at quarter 1 (Apr – Jun) of 2021/22 be noted.