Lead Member: Councillor Roger Evans – Portfolio Holder for Finance

Lead Officer: Duncan Whitfield – Interim Executive Director (S151)

REPORT TO FOLLOW

RESOLVED:

That Cabinet:

A.    Confirmed that the s151 Officer continues to ensure that actions taken by other senior officers under the declared Financial Emergency to reduce the variation from budget at outturn are continued to include the updated Budget, Transformation and Change

B.    Noted the continued use of the Budget, Transformation and Change Panel (formerly the Operations Board) and the Workforce Review Board with a view to enhancing the control of spend and authorisation of projects.

C.    Noted the forecast overspend at Period 10 of £49.944m.

D.    Noted the forecast level of savings to be delivered by the end of the financial year at Period 10 of £17.730m (29.61%).

E.    Noted the forecast General Fund Balance of £5.000m.

The Portfolio Holder for Finance presented the report, which outlined the council’s financial position at the end of January. The report noted a forecast improvement of £0.801m in the net overspend position, marking the first month in the financial year without a worsening forecast.

Members welcomed the improved clarity and presentation of the report.

In response to concerns raised regarding expenditure on the Northwest Relief Road, Members were advised that this related to necessary remedial works, with no significant further spend anticipated.

Members noted that savings proposals going forward would require clear, realistic delivery plans.

In response to a query, it was stated that the car?parking income variance was primarily due to charges being implemented later in the financial year.

It was noted that financial monitoring discipline and data quality had significantly improved, with a higher proportion of budgets being reported accurately and on time.

RESOLVED:

That Cabinet:

A.    Confirmed that the s151 Officer continues to ensure that actions taken by other senior officers under the declared Financial Emergency to reduce the variation from budget at outturn are continued to include the updated Budget, Transformation and Change

B.    Noted the continued use of the Budget, Transformation and Change Panel (formerly the Operations Board) and the Workforce Review Board with a view to enhancing the control of spend and authorisation of projects.

C.    Noted the forecast overspend at Period 10 of £49.944m.

D.    Noted the forecast level of savings to be delivered by the end of the financial year at Period 10 of £17.730m (29.61%).

E.    Noted the forecast General Fund Balance of £5.000m.