RESOLVED:
That the following be noted:
1. The housing revenue account (HRA) initial forecast of an adverse variance of £10.1m, acknowledging the volatility and assumptions that this forecast is based on the adverse variance of £12.9m forecast for the general fund (GF) in 2024-25.
The key adverse variations and budget pressures and mitigating actions underlying the position:
· Housing revenue account (paragraphs 14-30 of the report)
· General fund (paragraphs 31-84 of the report)
· Demand pressures in temporary accommodation (TA) (housing)
· Increased costs for those who have ‘No Recourse to Public Funds’ (NRPF) (environment neighbourhoods and growth)
· Increased costs in children services driven by the increased placement costs for children with complex needs and shortage of available foster placements (children’s and adults)
· Planning and growth – less than expected income and cost of maintaining void properties (finance)
· Customer services – Additional resources into the contact centre to address capacity issues (finance)
2. The dedicated schools grant (DSG) in-year pressure of £0.68m.
That the following be approved:
3. The write-off of a bad debt totaling £0.140m for a commercial outdoor event which is deemed to be irrecoverable (paragraph 67 of the report).