Purpose

Quarterly report

Content

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.