Decision details

Financial Monitoring Report 2018-19

Decision Maker: Cabinet

Decision status: Recommendations Approved

Is Key decision?: Yes

Is subject to call in?: Yes

Decision:

Having considered all of the information, including known proposals, alternative options and reasons for the recommendations, Cabinet noted the report and

 

RESOLVED to:

 

1 Note the forecast revenue year end position as at the end of November 2018 for the 2018/19 financial year of a net £0.957 million overspend. This represents a £1.259 million improvement on the previous position reported to Cabinet.

 

2. Note the forecast capital year end position as at the end of November 2018 of £99.147 million against the current budget of £99.909 million, reporting slippage of £0.762 against the year end target.

 

3. Note the forecast overspend in the Dedicated Schools Grant (DSG) of £5.7 million in 2018/19, which exceeds the £2.3 million of uncommitted DSG balances brought forward and the £1.35 million additional funds announced in December 2018 to support children with special educational needs and also endorses on going discussions with the Schools Forum to agree actions to bring DSG back into balance.

 

4. Approve the addition of £0.004 million to the Adults Capital programme funded by an insurance contribution.

 

5. Approve the addition of £0.214 million to the Highway Capital budget funded from a variety of sources as outlined in the body of the report.

 

6. Approve the addition of £0.111 million to the Libraries Capital programme funded by developer contributions.

 

7. Approve the addition of £0.025 million to the Information Management Capital budget funded by transfer from the GDPR reserve.

 

 

 

Publication date: 30/01/2019

Date of decision: 30/01/2019

Decided at meeting: 30/01/2019 - Cabinet

Effective from: 07/02/2019

Accompanying Documents: