Decision - Targeted Budget Management (TBM) 2022/23: Month 5 (August)

RESOLVED : That the Committee – (i) Noted the forecast risk position for the General Fund, which indicates a potential forecast overspend risk of £ 13.114m . This includes a net overspend of £ 0.088m on the council's share of the NHS managed Section 75 services; (ii) Notee the forecast for the Housing Revenue Account ( HRA ), which is currently an overspend of £ 1.167m ; (iii) Noted the forecast position for the Dedicated Schools Grant which is currently an overspend of £ 0.313m ; (iv) Noted the forecast outturn position on the capital programme which is a forecast overspend of £ 9.030m and approve the variations and slippage in Appendix 6 and new schemes as set out in Appendix 7; (v) Agreed in light of the comments in paragraph 12 of the report, that an urgent report be brought to the Member Budget Review Group as soon as TBM Month 6 is available, and request that the Chair of P&R calls a Special Policy & Resources Committee meeting or Policy & Resources Urgency Sub-Committee meeting should, in the views of the Budget Review Group the situation has not shown any significant improvement and that such a meeting is needed.

The report compares the council’s forecast revenue variance at Month 2 with the Month 5 forecast. The total General Fund forecast variance increased from £8.636 million to £13.114 million, a movement of £4.478 million, mainly due to projected pay award and academisation costs.