Purpose

Quarterly report

Content

Thes report set out the
forecast Revenue and Capital outturn position for Buckinghamshire
Council for the financial year 2023/24 as at Quarter 2. The Council
was continuing to experience significant financial pressures due to
continued increase in demand and complexity of need in key
services, such as Adults Social Care and Children’s Social
Care. The forecast revenue outturn position at Quarter 2 was an
adverse variance of £8.6m, (2% of Portfolio budgets), an
increase of £0.3m from the Quarter 1 reported position of
£8.3m. This was primarily due to pressures in Health and
Wellbeing and Education and Children’s Services from demand
and market insufficiency issues, coupled with pressures in Housing
& Homelessness & Regulatory Services in Temporary
Accommodation budgets and Transport budgets.  Within the overall position there was an adverse
variance of £15.2m (3%) in Portfolios (£14.0m last
quarter) offset by a £6.6m (£5.7m last quarter)
favourable variance in Corporate & Funding.
 
Following the Quarter 1
position, detailed Portfolio Action Plans had been implemented to
address pressures, with a view to urgently bringing budgets back
into line. The Quarter 2 position reflected positive variances
across several portfolios linked to the delivery of the action
plans, however, the financial position had deteriorated overall due
to increasing pressures within Education & Children’s
Services which were detailed in the report. Capital spending was
forecast to be 99.5% of budget, a variance of
£0.6m.
 
RESOLVED that Cabinet note the report and the risks and
opportunities contained within it and
also note the actions being taken to mitigate pressures as
set out in para 3.9 of the report.