A report from the Director of Finance, Resources and Customer Services is attached. This sets out the Council’s revenue budget monitoring position based on information to the end of December 2014. (Key decision – reference number 3952)
(8.35 - 8.40 pm)
Councillor Andrew Stafford (Cabinet Member for Finance) introduced the report of the Director of Finance, Resources and Customer Services (No.160) setting out the Council’s revenue budget monitoring position based on information to the end of December 2014.
1. That the report forecast an outturn position of £2.88m overspend for 2014/15 subject to action plans to contain budget pressures.
2. The budget pressures facing Schools and Children’s Services as set out in section 5.5 of the report and outlined by Andrew Fraser (Director of Schools and Children’s Services) at the meeting. Recommendation 2.3 of the report, set out in decision 3 below, proposed the use of contingency and contingent items to fund the SEN transport pressure within Schools and Children’s Services in 2014/15 of £507k. Members noted the work that was being undertaken to review and meet demands particularly in relation to intervention and prevention measures.
3. The effect of demand led pressures on the revenue budget. Levels of demand would continue to be closely monitored.
Alternative Options Considered: Not applicable to this report.
DECISION: The Cabinet agreed
1. To note the £2.88m overspend revenue outturn position.
2. That departments reporting pressures should continue to formulate and implement action plans to ensure that they remain within budget in 2014/15.
3. The use of contingency and contingent items to fund the SEN Transport pressure within Schools and Children’s Services in 2014/15 of £570k (section 5.5 of the report referred).
4. To a review of the current revenue monitoring process and to note that a further report would be submitted recommending improvements for 2015/16 in line with Enfield 2017 principles and practices.
Reason: To ensure that Members were aware of the projected budgetary position for the Authority for the current and future years including all major budget pressures and underspends which had contributed to the present monthly position and that were likely to affect the Council’s finances over the period of the Medium Term Financial Plan.
(Key decision – reference number 3952)