Content

That Cabinet note the
overall revenue budget deficit forecast at month 6 of £284k,
a deterioration of £160k since the previous
forecast.

 
That Cabinet note the
forecast 87% delivery of the £12.3m budgeted service savings
for the year, resulting in a £1.6m deficit that is needing to
be managed as part of the overall revenue budget. The overall level
of budgeted savings includes the additional in-year budget recovery
action of £2.1m as recommended by Cabinet as part of the
Month 5 report.
 
That
Cabinet note the ongoing budgetary risks that remain inbuilt into
the month 6 forecast,
namely;
 

Ø 
The volatility of demand for high-cost services,
particularly in Adults & Childrens Social Care and
Homelessness;

Ø 
The risk of further non-delivery of the £12.3m
of budgeted savings targets;

Ø 
The severely limited reserve cover available to the
Council;

Ø 
The continued pressure on both UK and Welsh
Government budgets, and wider challenging economic
environment;

Ø 
The potential shortfall in funding of the increased
responsibilities transferred to Councils, particularly within
Universal Free School Meals and Homelessness that have the
potential to further impact forecasts if a suitable funding
resolution is not achieved.
That Cabinet note that the negotiation of national pay
agreements for Local Government employees has concluded, and that
the outcome is in line with previous budget forecasts.

 
That Cabinet note the forecast draw on schools delegated
balances as outlined in Appendix 1 of this report of
£3.76m, with school balances forecast to reduce to
£494k by the end of the financial year and with fifteen
schools now forecast to be in a deficit balance.
 
That Cabinet note a forecast Capital budget underspend of
£2.19m, alongside an indication of slippage in capital
schemes of £9.2m. The £2.19m underspend is in relation
to the Asset Investment Fund budget that is funded by borrowing and
does not therefore represent a usable surplus budget.
 
That Cabinet approve the capital budget revisions as outlined in
Appendix 3 as a result of additional unbudgeted grant
allocations notified since the beginning of the year, and a
required draw on Section 106 major maintenance sums to fund
required works.