Issue - meetings

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 July 2015. (Key decision – reference number 4148)

(Report No.55)

(8.25 – 8.30 pm)

Councillor Andrew Stafford (Cabinet Member for Finance and Efficiency) introduced the report of the Director of Finance, Resources and Customer Services (No.55) setting out the Council’s revenue budget monitoring position based on information to the end of July 2015.

NOTED

1.      The £4.59m overspend revenue outturn projection.  The key budget pressures had been identified within section 5 of the report with the demand on Children’s Services identified as the most significant pressure.  Whilst not just an issue being experienced in Enfield, the demand was focussed around the continued upward trend of demographic pressures and the increasing numbers of children presenting with complex needs

2.      The pressures identified within the report would continue to be monitored and management action taken to mitigate and reduce them as far as possible throughout the year.  As in previous years, Directors had also been requested to bring forward 2016/17 savings for early implementation as a further means of reducing the projected budget gap.

3.      The key risks identified in relation to the current revenue outturn projection, as identified in section 12 of the report.

4.      The summary of Treasury Management activity, as detailed within section 6.1 and Appendix B of the report.

Alternative Options Considered: Not applicable to this report.

DECISION: Cabinet agreed that departments reporting pressures should formulate and implement action plans to ensure that all possible actions were undertaken to remain within budget in 2015/16.

Reason: To ensure that Members were aware of the projected budgetary position for the Authority, including all major budget pressures and underspends which had contributed to the present monthly position and that were likely to affect the final outturn.

(Key decision – reference number 4148)