8 Policy and Resources Strategy: Revenue Monitoring report, including Treasury Management 2019-20 (Month 4)
To note the General Fund forecast outturn position for 2019-20 and to note the key adverse variations and budget pressures underlying the forecast outturn position.
1. That the General Fund forecast outturn position for 2019-20 (Table 1 of the report) be noted.
2. That the key adverse variations and budget pressures underlying the forecast outturn position be noted:
· The Dedicated Schools Grant (DSG) forecast outturn position of a £6m deficit and the significant pressures on the High Needs Block (paragraphs 25-28 of the report)
· The forecast budget pressures on temporary accommodation (paragraphs 34-36 of the report)
· The forecast utilisation of £4m contingency to support the General Fund budget (paragraph 51 of the report).
3. That the Housing Revenue Account (HRA) forecast outturn position for 2019-20 (Table 2, paragraphs 52-61 of the report) be noted.
4. That the forecast movements of General Fund earmarked reserves (paragraphs 62-68 of the report) be noted.
5. That the update on the London Business Rate pool net financial benefits (paragraphs 69 to 70 of the report) be noted.
6. That the treasury management activity to date in 2019-20 (paragraphs 71-79 of the report) be noted.
7. That the interdepartmental General Fund budget movements that are less than £250k as shown in Appendix A of the report be noted.