Agenda item

(a)  That the latest financial forecast and the ongoing work by departments to reduce the over spend be noted.

(b)  That the write offs listed in paragraph 9 of the report be approved.

The Assistant Director Finance & Audit introduced a report that updated the Cabinet on the latest forecast financial information to the end of January 2017 and sought approval for the write offs requests detailed in section 9 of the report.

The forecast overspend had been reduced by 50% on the previous month to £0.418m.  Pressures on the adult social care budget, primarily the increasing levels of care for existing clients, meant the overspend for the Wellbeing directorate was £0.859k.  Work was ongoing to continue to reduce the overspend and achieve a breakeven position by year end.  It was forecast that 89% of the total capital programme would be delivered by the end of the year.  There was no change to the previously reported position on the Housing Revenue Account with a forecast surplus on £0.396m.

Commissioners considered the position regarding write offs and it was noted that a net total of £0.228m had been written back into the accounts during the period.

After due consideration, the Cabinet noted the latest forecast financial information and agreed to approve the write-off transactions as detailed in paragraph 9 of the report.

Resolved –

(a)  That the latest financial forecast and the ongoing work by departments to reduce the over spend be noted.

(b)  That the write offs listed in paragraph 9 of the report be approved.