A report from the Director of Finance, Resources and Customer Services will be circulated as soon as possible. (Key decision – reference number 4367)
(8.10 – 8.15 pm)
Councillor Dino Lemonides (Cabinet Member for Finance and Efficiency) introduced the report of the Director of Finance, Resources and Customer Services (No.153) setting out the Council’s revenue budget monitoring position based on information to the end of October 2016.
1. For information, the £7.2m overspend revenue outturn projection. This position was the same as reported in September 2016.
2. For information, that Cabinet Members would continue to work with Directors to implement action plans to reduce the forecast overspend in 2016/17.
3. For information, the mitigating actions proposed to date by Directors of overspending departments as set out in Appendix A of the report.
4. For information, that Cabinet Members would continue to work with Directors to agree and implement plans to mitigate pressures being forecast in the Medium Term Financial Plan.
5. That Table 1 of the report set out the summary performance overview and the current red risk ratings in respect of the year end variances and schools budget as detailed.
6. Members’ attention was also drawn to the forecast projected departmental outturn variances shown in Table 2 and detailed in the appendices to the report.
7. Councillor Lemonides highlighted the key risks as set out in section 13 of the report which included demand-led service pressures.
8. That work on the budget for 2017/18 and subsequent years was continuing, section 9 of the report referred, with the finalisation of budget proposals being reported to Cabinet and Council in February 2017.
9. That as previously reported, Enfield had accepted the Government’s multi-year settlement offer, section 9.2 of the report referred.
10. Members’ continued concerns that the Government was not providing adequate funding to meet the demands being faced by local authorities. Councillor Cazimoglu reiterated the need for increased funding with regard to Adult Social Care. Councillor Oykener also highlighted the continuing housing pressures being faced by local authorities.
Alternative Options Considered: Not applicable to this report.
Reason: To ensure that Members were aware of the projected budgetary position, 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 4367)