Issue - meetings

Revenue and Capital Budget Plan 2018/19 – 2019/20 - October 2018

 

 

Meeting: 04/10/2018 - Cabinet (Item 51)

51 Revenue and Capital Budget Plan 2018/19 pdf icon PDF 760 KB

Report of the Head of Corporate Resources

 

Minutes:

The Cabinet considered the report of the Head of Corporate Resources:-  

 

(1)

seeking a review and consideration of the current forecast revenue outturn position for the Council for 2018/19 and the potential impact on the 2019/20 budget (including the achievement of approved Public Sector Reform savings);

 

(2)

advising of the current forecast on Council Tax and Business Rates collection for 2018/19; and

(3)

advising of the current position of the 2018/19 Capital Programme.

 

The Head of Corporate Resources referred to the current outturn forecast and the  additional pressure that would be placed upon the 2019/20 budget (in addition to the current best estimate of £15m in respect of 2020/21; the close monitoring of services under significant budget pressure, in particular Children’s and Adults Services; and that the outturn forecast could change by the end of the financial year.

 

Decsion Made:

 

That:-

 

(1)

the forecast deficit revenue outturn position for 2018/19 and

the potential impact on the budget for 2019/20, (including the achievement of approved Public Sector Reform savings) be noted;

 

(2)

the significant budget pressure and the urgency for service areas to bring forward new budget saving proposals for Member consideration in time to deliver a balanced budget position in 2018/19 and 2019/20 be noted;

(3)

the forecast position on the collection of Council Tax and Business Rates for 2018/19 be noted; and

 

(4)

the current progress in the delivery of the 2018/19 Capital Programme be noted.

 

Reasons for the Decisions:

 

To ensure Cabinet are informed of the forecast outturn position for the 2018/19 revenue and capital budgets as at the end of August 2018 and to provide an updated forecast of the outturn position with regard to the collection of Council Tax and Business Rates.

 

In March 2017 Council approved a three-year budget plan to March 2020. The final two years of this plan were revised in March 2018 as part of the process of setting the 2018/19 budget. As the Council is nearly half way through the second year of this budget plan it remains confident, that its continued strategic approach to budget planning alongside good financial management and extensive community engagement, means that the plan continues to develop on solid foundations, remains flexible and will secure the future sustainability to 2020 and beyond. However, in year demand for social care services is currently resulting in the costs for these services exceeding the budget. Corrective action will be required to bring the overall budget into balance before the end of the financial year.

 

Alternative Options Considered and Rejected

Not applicable