Decision:
RESOLVED that Cabinet:-
1. Notes the financial position for the Council as at Quarter 2 is a projected operational overspend of £12.5M for 22/23; and
2. As highlighted in Quarter 1, releases resources earmarked as part of the 22/23 budget setting and 21/22 final accounts processes to temporarily address the net pressure; and
3. Agrees that the action plans requested at Q1 to mitigate overspends in the service areas listed below are finalised and submitted to Cabinet/ Audit and Governance Committee for consideration during Q3:
· 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]
4. Notes the current 22/23 forecast of a balanced position on the Housing Revenue Account; and
5. Approves the write-off of historic bad debts totalling £1.0M as detailed in the report; and
6. Notes the forecast position on the approved Capital Programme and the ongoing review of the programme; and
7. Notes the key messages from the Council’s Q2 Treasury Management activities.
Minutes:
RESOLVED that Cabinet:-
1. Notes the financial position for the Council as at Quarter 2 is a projected operational overspend of £12.5M for 22/23; and
2. As highlighted in Quarter 1, releases resources earmarked as part of the 22/23 budget setting and 21/22 final accounts processes to temporarily address the net pressure; and
3. Agrees that the action plans requested at Q1 to mitigate overspends in the service areas listed below are finalised and submitted to Cabinet/ Audit and Governance Committee for consideration during Q3:
· 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]
4. Notes the current 22/23 forecast of a balanced position on the Housing Revenue Account; and
5. Approves the write-off of historic bad debts totalling £1.0M as detailed in the report; and
6. Notes the forecast position on the approved Capital Programme and the ongoing review of the programme; and
7. Notes the key messages from the Council’s Q2 Treasury Management activities.
Supporting documents: