Decision Maker: Cabinet
Decision status: Recommendations Approved
Is Key decision?: Yes
Is subject to call in?: Yes
To note the forecast revenue outturn position, including treasury management
1. That it be noted that:
· the general fund outturn forecast for 2017-18 is an overspend of £0.035m (Table 1, paragraph 12 of the report) after the application of the supplementary improved better care fund grant (IBCF) as agreed by the health and well being board on 11 September 2017
· the continuing pressures on children’s and adults’ social care of £5.059m, including the net use of reserves totalling £1.383m; prior to the application of the IBCF, these cost pressures were forecast to be £12.530m (paragraphs 13 to 17 of the report)
· the adverse variance in public health of £0.5m due to continued demand pressures in sexual health services (paragraphs 20 to 24 of the report)
· the favourable variance in environment and social regeneration of £2.0m is largely due to the reduced demand and costs from the waste private finance initiative (PFI) contract (paragraphs 20 to 24 of the report)
· the continuing cost pressures in housing and modernisation in temporary accommodation, No Recourse to Public Funds and severance payments (paragraph 26 to 38 of the report)
· The favourable variance in strategic finance of £1.500m (paragraph 43 of the report)
· the £4m contingency is utilised in full to mitigate the total impact of cost pressures (paragraph 45 of the report)
· the general fund outturn forecast including the final projected outturn position assumes a total net reduction in reserves of £10.6m (table 3 of the report)
· the forecast reduction in reserves includes the full allocation of remaining Dedicated Schools Grant Reserve of £1.249m as well as a further draw down from reserves of £3.500m creating a future call to the DSG reserve of £3.500m (paragraphs 18 and 19 of the report)
· the housing revenue account forecast set out in table 2, paragraphs 47 to 54 of the report
· the treasury management activity to date in 2017-18 (paragraph 60 to 64 of the report).
2. That the general fund budget movements that exceed £250,000, as shown in Appendix A of the report be approved.
3. That cabinet general fund budget movements that are less than £250,000, as shown in Appendix A of the report be noted.
Report author: Duncan Whitfield
Publication date: 07/02/2018
Date of decision: 06/02/2018
Decided at meeting: 06/02/2018 - Cabinet
Effective from: 15/02/2018