Agenda item - Targeted Budget Management (TBM) 2024/25: Month 2 (May) Targeted Budget Management (TBM) 2024/25 Month 2 (May) and Council Productivity Plan Response

1)             Cabinet notes the forecast risk position for the General Fund, which indicates a potential forecast overspend risk of £10.137m.

2)             Cabinet notes the forecast outturn includes a forecast overspend risk of £1.600m on the NHS managed Section 75 services.

3)             Cabinet notes the forecast overspend risk for the separate Housing Revenue Account (HRA), which is an underspend of £0.020m.

4)             Cabinet notes the forecast overspend risk for the ring-fenced Dedicated Schools Grant, which is an overspend of £0.456m.

5)             Cabinet notes the forecast position on the Capital Programme which is an underspend variance of £0.339m.

6)             Cabinet approves the capital budget variations and re-profiling requests set out in Appendix 5.

7)             Cabinet approves the new capital schemes requested in Appendix 6.

8)             Cabinet notes the Treasury Management Update as set out in Appendix 7.

9)             Cabinet notes the council’s Productivity Plan response at Appendix 8.

33.1      Cabinet considered a report that set out an early indication of forecast risks as at Month 2 on the council’s revenue and capital budgets for the financial year 2024/25 and the response to the Government’s Productivity Plan request.

33.2      Councillors Sankey, Burden, Goddard and Robins contributed to the debate of the report.

33.3      Resolved-

1)             Cabinet notes the forecast risk position for the General Fund, which indicates a potential forecast overspend risk of £10.137m.

2)             Cabinet notes the forecast outturn includes a forecast overspend risk of £1.600m on the NHS managed Section 75 services.

3)             Cabinet notes the forecast overspend risk for the separate Housing Revenue Account (HRA), which is an underspend of £0.020m.

4)             Cabinet notes the forecast overspend risk for the ring-fenced Dedicated Schools Grant, which is an overspend of £0.456m.

5)             Cabinet notes the forecast position on the Capital Programme which is an underspend variance of £0.339m.

6)             Cabinet approves the capital budget variations and re-profiling requests set out in Appendix 5.

7)             Cabinet approves the new capital schemes requested in Appendix 6.

8)             Cabinet notes the Treasury Management Update as set out in Appendix 7.

9)             Cabinet notes the council’s Productivity Plan response at Appendix 8.