Purpose

Quarterly report

Decision

The report set out the forecast Revenue and Capital outturn position for Buckinghamshire Council for the financial year 2024/25 as at Quarter 1. The Council continued to experience significant financial pressures due to increases in demand, complexity of need and market insufficiency in key services. These pressures were in line with those being experienced nationally.

The forecast revenue outturn position for 2024/25 was an adverse variance of £6.5m, 1% of Portfolio budgets. This was primarily due to pressures in Education and Children’s Services around additional placements for Looked After Children, Transport Services linked to increases in demand and in Climate Change & Environment due to income pressures in Waste.

The forecast for the Dedicated Schools Grant budget was a deficit of £7.7m, primarily due to ongoing pressures within the High Needs Block. The forecast position on capital budgets was break even. Actions would continue to be required to closely manage the in-year financial position.

RESOLVED –

That the Quarter 1 Budget Management Report 2024-2025, and the risks and opportunities contained within it, be NOTED.