Decision details

RESOLVED that Cabinet:-

CORPORATE FINANCE PERFORMANCE

1.         Notes the £13.7M projected overspend on the Council’s General Fund in 2022/23;

2.         Notes that £10.9M of this relates to exceptional risks referenced as part of setting the 22/23 budget in February 2022 which have now materialised;

3.         Notes that these cost pressures will be funded via the use of one-off reserves in this financial year pending the development of a mitigation / transformation plan to address anticipated financial pressures in 23/24 and beyond;

4.         Notes that the remaining £2.8M relates to unanticipated cost pressures across several Council services;

5.         Requests that action plans are drawn up to mitigate overspends as far as is possible and that those are submitted to Cabinet as part of the Q2 performance management update:

• Children in Care [Children’s Services]

• Assessment & Care Management [Children’s Services]

• Estates – Commercial Rental Income [Growth & Sustainability]

• Car Parking Income [Growth & Sustainability]

• Home to School Transport [Growth & Sustainability]

• Assisted Living Technologies [Public Health & Communities)

• Legal Costs / Income Shortfall [Core]

6.         Notes the current 22/23 forecast position on the Housing Revenue Account;

7.         Approves the write off of historic bad debts totalling £0.9M as detailed in the report.

CAPITAL PROGRAMME PERFORMANCE

8.         Notes the forecast position on the Capital Programme (paragraphs 2.11 to 2.17 of the report refers); and

TREASURY MANAGEMENT

9.         Notes the key messages from the Council’s Q1 Treasury Management activities (paragraphs 2.18 – 2.28 of the report refers).