Agenda item

(a)  That the virements and write offs contained within sections 8 and 12 of the report be approved.

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

(c)  That it be noted that £39k of the Community Investment Fund remained unallocated, and that it be agreed to allocate this amount to make further neighbourhood improvements under the environmental improvements programme.

The Assistant Director Finance & Audit introduced a report that provided the Cabinet with the latest forecast financial information and performance report for the period to the end of September 2015.

The Council was forecasting an overspend of £2.046m at the end of the second quarter, primarily arising from overspends in Children & Families, Adult Social Care and Public Health.  Action was being taken to address the underlying overspend and it was anticipated that future reports would show an improved position.  The work being done to deliver the savings programme for 2015-16, particularly the £2.6m worth of savings currently rated as ‘red’ was discussed.  The Cabinet noted the current financial and performance position and approved the virements in section 8 and write off requests detailed in section 12 of the report.

The Cabinet was informed that £39k of capital from the Community Investment Fund remained unallocated.  The Commissioner for Neighbourhoods & Renewal proposed, and it was agreed, that this be made available for further neighbourhood improvements as part of the environmental improvements programme.

Resolved –

(a)  That the virements and write offs contained within sections 8 and 12 of the report be approved.

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

(c)  That it be noted that £39k of the Community Investment Fund remained unallocated, and that it be agreed to allocate this amount to make further neighbourhood improvements under the environmental improvements programme.