Agenda item

Report of the Managing Director.

The Cabinet Member with the Resources Portfolio introduced the report of the Managing Director (previously circulated)providing an up-to-date forecast of the 2019-20 revenue budget outturn as part of the Council’s continuous financial management process.

The submitted report stated that the latest projection showed an overall improvement against the Medium Term Financial Plan (MTFP) of £0.545m which was a increase of £0.670m from the position reported at Quarter 2 (Minute C73/Nov/19 refers); the positive change was primarily due to improvements in Adult Services of £0.745m and receipt of additional income from the Council’s Joint Venture Investment Returns of £0.105m; and that there had been a further decline in Children and Education Services budgets of £0.170m due mainly to increased staffing required to meet the needs of additional children coming in Local Authority Care, along with the subsequent transport requirement.

Particular reference was made, at the meeting, to the overspend in the school transport budget.

RESOLVED - (a)  That the forecast revenue outturn for 2019-20, as detailed in the submitted report, be noted.

(b)  That the proposed carry forward of resources referred to in paragraphs 16 and 17 of the submitted report, be noted and approved.

(c)  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.