Agenda item

(a)  That the current financial forecast position, balanced scorecard and update on Gold projects be noted.

(b)  That the write offs and virements contained within sections 10 and 11 of the report be approved.

The Assistant Director, Finance & Audit introduced a report which updated the Cabinet on the latest financial forecasts for the 2014/15 year; sought approval for the virement and write off requests; and summarised the performance of key indicators and ‘Gold’ projects.

The forecast overspend at the end of the third quarter was £0.69m, which was £270k lower than the previous month as a result of remedial actions taken to manage the overspend.  The main area of overspend was in the Children’s and Families Service which had a forecast overspend of £1.38m and recovery plan was in place for Children’s Social Care to reduce in year pressures.  The Cabinet noted that the total forecast overspend was reducing and requested that work continue to move towards a breakeven position by the year end.

Commissioners noted that the Council’s balanced scorecard to the end of December showed 69% of indicators were ‘green’ and a further 22% were ‘amber’.  The only three ‘red’ indicators related average staff sickness rates; the number of families placed in bed & breakfasts; and the percentage of Single Assessments completed and authorised within 45 working days.  However, it was noted that there had been significant improvement in this indicator with 85.9% completed to timescales, which was below the nationally set target of 100% but well above historic local performance.  All six ‘Gold’ projects had an overall status of ‘amber’.

Following discussion, the Cabinet noted the financial and performance information and approved the write off and virement requests as detailed in sections 10 and 11 of the report.

Resolved –

(a)  That the current financial forecast position, balanced scorecard and update on Gold projects be noted.

(b)  That the write offs and virements contained within sections 10 and 11 of the report be approved.