Decision Maker: Adults and Health Committee
Decision status: For Determination
Is Key decision?: No
Is subject to call in?: Yes
The Committee considered a report and briefing on the current forecast outturn for the financial year 2024/25 based on income, expenditure and known commitments, from Nicola Wood-Hill, Lead Finance Business Partner.
Members thanked officers for their work to date on the budget and noted that work had been done to reduce spend in certain areas of the Adults and Health budget, but demand for services had seen an increase and subsequent additional costs.
The Committee were updated that the budget forecast had been made on predictions on the number of people who would likely be in receipt of care for the coming year. However, later, work had been undertaken to slow the number of people coming through the door, and the spend on individual care, which meant that the forecasted overspend was smaller than originally anticipated. The committee were updated that the last quarter of the year was traditionally the most difficult, due to winter pressures and demand on hospitals, but officers were analysing the data on a weekly basis, and work had been done to slow the growth in activity, reduce admissions, and transfers to long term care where possible.
It was noted that client contributions were in excess of the anticipated budget, which had also fed into the Council’s MTFS.
RESOLVED: (Unanimously)
That the Adults and Health Committee:
1. Review the factors leading to a forecast adverse Net Revenue financial pressure of £18.3m against a revised budget of £390.5m (4.7%). To scrutinise the contents of Annex 1, Section 2 and review progress on the delivery of the MTFS approved budget policy change items, the RAG ratings and latest forecasts, and to understand the actions to be taken to address any adverse variances from the approved budget.
2. Review the in-year forecast capital spending of £144.7m against an approved MTFS budget of £215.8m, due to slippage that has been re-profiled into future years.
3. Note the available reserves position as per Annex 1, Section 5.
4. Note the Capital Virements above £500,000 up to and including £5,000,000 as per Annex 1, Section 4, Table 4 will be approved in accordance with the Council’s Constitution.
Report author: Tracy Baldwin
Publication date: 22/01/2025
Date of decision: 20/01/2025
Decided at meeting: 20/01/2025 - Adults and Health Committee
Effective from: 30/01/2025
Accompanying Documents: