Issue - meetings

Cabinet Member: Finance

Forward Plan Ref: 2018/091

Contact: Katy Jurczyszyn, Strategic Finance Manager (Finance, Strategy & Monitoring) Tel: 07584 909518

Report by Director of Finance (CA6).

The purpose of this report is to set out the forecast position of the revenue budget as at the end of August 2018.  This report also includes an update on the delivery of savings, plus forecast reserves and balances.

The Cabinet is RECOMMENDED to:

(a)          note the report;

(b)         note the virements set out in Annex 2b;

(c)         approve the supplementary estimates set out in Annex 2c and paragraph 10;

(d)         approve the bad debt write-offs as set out in paragraphs 21 and 22.

Recommendations agreed.

Cabinet considered a report that set out the forecast position of the revenue budget as at the end of August 2018.  The report also included an update on the delivery of savings, plus forecast reserves and balances.

Councillor Phillips, Shadow Cabinet Member for Finance, stated that the report illustrated the fragility of the Council’s financial position. In particular the ongoing increase in demand for children’s services was a national problem requiring a national solution. Councillor Phillips highlighted a number of issues including that services such as those for unaccompanied young asylum seekers were not fully funded by government. She also noted that where schools became academies debt was retained by the authority but that any surplus was kept by the school. Councillor Phillips looked forward to the government Green Paper and hoped that the Chancellor’s budget statement would reflect the end of austerity.

Councillor Bartholomew, Cabinet Member for Finance, refuted that the Council’s financial position was fragile. The overspend was similar to that at the same point last year, would be addressed and a balanced budget delivered. Councillor Bartholomew commented that children’s services were demand led and the Council was doing everything it could at a local level. He shared Councillor Phillip’s concern about the underfunding of services for unaccompanied young asylum seekers. Councillor Bartholomew had sympathy with the point she made on schools becoming academies.

Councillor Bartholomew, introduced the contents of the report. Lorna Baxter, Director of Finance, referred to the additional funding from government for adult social care. The Council had not received notification of their share of the funding  and expected that it would have conditions attached.

RESOLVED:-

(a)          note the report;

(b)          note the virements set out in Annex 2b;

(c)          approve the supplementary estimates set out in Annex 2c and paragraph 10;

(d)         approve the bad debt write-offs as set out in paragraphs 21 and 22.