Agenda item

Revenue Budget Monitoring 2018/19 - Quarter Two

Report of the Managing Director


The Cabinet Member with the Efficiency and Resources Portfolio introduced the report of the Managing Director (previously circulated) providing an up-to-date forecast of the 2018/19 revenue budget outturn as part of the Council’s continuous financial management process.


The submitted report stated that the latest projections showed an overall improvement against the Medium Term Financial Plan (MTFP) of £1.116M and that the Children and Adults Group were reporting an overspend of £0.432M, which had been offset by an underspend on the financing costs budget of £0.591M.


In presenting the report, the Cabinet Member with the Children and Young People Portfolio stated that the overspend in Children’s Services, was as a result of the increase in the number of children entering the care system and to the additional duty, placed on the Council without any further funding, to support care leaves up to the age of 25 years of age.


Discussion ensued on the level of support available to children and their families; the impact of budget cuts on this support; and the importance of ‘investing to save’.


RESOLVED – (a)  That the forecast revenue outturn for 2018/19, as detailed in the submitted report, be noted.


(b)  That further regular reports be made to monitor progress and take prompt action if necessary.


REASONS – (a)  To continue effective management of resources.


(b)  To continue to deliver services to agreed levels.


Supporting documents: