Purpose

This report estimates the Council’s year end position.

Decision

RESOLVED:

A.           To note that at the end of Quarter 1 (30th June 2023), the expected level of savings delivery is £34.3m, representing more than the sum total of the last 3 years, and a level of delivery equal to that in recent years.  

B.           That savings not yet confirmed amount to £17m. 

C.          That demand-led services are forecasting significant overspending of £20.5m in the year, which is likely to continue into the coming year.  

D.          The result of those points (A-C above) is a current forecast of overspend of £37.590m 

E.           That it is assumed for planning purposes that  

a.           65% of the remaining savings will be delivered (total: £11.9m) and  

b.           short-term funding will be identified to enable sustainable demand management approaches to be implemented in social care services (total: £20.5m), and that necessary plans are prepared to enable this.  

F.           The resulting forecast at quarter 1 is therefore a likely overall overspend of £5.2m once key management actions are implemented. This will leave the General Fund balance at £21.8m, within the target range of £15m-£30m.