Decision details

Cllr Ray Theodoulou, Cabinet Member for Finance and Change, updated members on the year-end forecast for the 2018/19 County Council’s Revenue and Capital Budgets for the year ending 31 March 2019.

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

RESOLVED to:

1.    Note the forecast revenue year end position as at the end of January 2019 for the 2018/19 financial year of a net £0.406 million overspend. This represents a £0.551 million improvement on the previous position reported to Cabinet on 30 January 2019;  

2.    Approve the draw down of £0.43 million from the Vulnerable People’s Reserve to Children’s Services to offset significant in-year variances on external placement budgets;

3.    Note the forecast overspend in the Dedicated Schools Grant (DSG) of £5.19 million in 2018/19, which reduces to £1.54 million after adjusting for 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.    Note the forecast capital year end position as at the end of January 2019 of £98.350 million against the current budget of £100.001 million – in year slippage of £1.651 million;

5.    Approve the addition of £0.045 million to the Children & Families Capital Budget funded by a revenue contribution;

6.    Approve the addition of £1.187 million to the Highway Capital Budget funded from a variety of sources as outlined in the body of the report;  

7.    Approve the addition of £0.004 million to the Waste Capital programme funded by a revenue receipt; and

8.    Approve the reduction of £0.019 million contribution to the AMPS capital budget as detailed in the body of the report below.