Agenda item

The Committee were provided with an overview of the Council’s financial position as at month 7 for the 2016/217 financial year. The Council was forecasting an over spend of £1.596m as at month 7, compared to an overspend forecast of £1.604m in month 6. It was noted that Cabinet were due to receive the financial forecast figures relating to month 8, which would show that the overspend had reduced to £916k.

Members were informed that significant work was being done to control the overspend and officers were confident that the overspend would be contained by the end of the financial year. Responding to concerns whether financial pressures would impact on the delivery of front line services, the Committee were assured that there would not be any impact on any such services.

A Member questioned whether the Council was exploring alternative income streams in an attempt to address the financial overspend. The Assistant Director, Finance and Audit commented that a number of innovative schemes had been developed, including the Strategic Acquisition Fund (commercial income streams to generate additional revenue income) and Slough Urban Renewal (private sector housing developments).

In addition, although there were increasing budgetary pressures on the Adult Social Care budget, the service was scrutinising all areas of expenditure such as agency costs and imposing spend restrictions where possible.  Other areas within the directorate were also being explored to try to identify under spends that would contribute to reducing the financial pressure. 

A Member asked whether, given recent issues faced by the Council,  a review of the Council’s public liability / insurance services had been conducted. The Committee were informed no such review had been carried out and that the matter would be looked into. 

Resolved –That details of the current financial forecast and the ongoing work by departments to reduce the over spend be noted.

(Councillor Holledge left the meeting)