Lead Member – Councillor Gwilym Butler, Portfolio Holder for Finance, Corporate Resources and Communities

Lead Officer – Ben Jay

RESOLVED:

That:

A.    Cabinet Members continue to work closely with the Chief Executive and senior officers to urgently take the necessary actions to improve further the Quarter 3 forecast of a projected spend over budget of £35.561m

B.    Cabinet Members discussed the impact of the projected expenditure forecast on the General Fund Balance and note the risk of further service pressures (savings required) in next year if financial performance in the current year is not improved.?

C.    Cabinet Members noted the projected deficit on the Dedicated Schools Grant and the approach to reviewing this.

The Portfolio Holder for Finance, Corporate Resources and Communities presented the quarterly report which provided a detailed review of the Council’s financial position as at the 31 December 2024. Members noted that the projected overspend was £35.561m.

Concern was raised regarding the projected overspend and the failure to deliver the proposed savings. The Portfolio Holder highlighted the impact of the government's funding decisions, including the removal of the rural services grant and reductions in social care grants.

The Portfolio Holder and finance team were thanked for ensuring financial information was better available to members.

RESOLVED:

That:

A.    Cabinet Members continue to work closely with the Chief Executive and senior officers to urgently take the necessary actions to improve further the Quarter 3 forecast of a projected spend over budget of £35.561m

B.    Cabinet Members discussed the impact of the projected expenditure forecast on the General Fund Balance and note the risk of further service pressures (savings required) in next year if financial performance in the current year is not improved.?

C.    Cabinet Members noted the projected deficit on the Dedicated Schools Grant and the approach to reviewing this.