Issue - meetings

To receive a report on the first financial review for Children and Families services for the financial year 2024/25.

The committee received a report on the first financial review for Children’s Services for 2024/25. The report provided the current forecast outturn for the financial year 2024/25 based on income, expenditure and known commitments as at the end of July 2024. It also identified actions that were being taken to address adverse variances to urgently address financial sustainability.

It was request that a report be brought forward to committee to provide an update on school transport including an update on cost.

It was queried what the initial cost was for the consultants who were working on the school transport review and what that cost would be moving forward. Officers undertook to provide this detail in a written response.

RESOLVED:

That the Children and Families Committee:

1.    Review the factors leading to a forecast adverse Net Revenue financial pressure of:

Council: £26.5m against a revised budget of £387.6m (6.8%)

Children and Families: £7.3m against a revised budget of £91.5m (8.0%)

To scrutinise the contents of Annex 1, Section 2 relevant to services within the committee’s remit, 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.    Consider the in-year forecast capital spending of:

Council: £164.5m against an approved MTFS budget of £215.8m Children and Families: £37.9m against an approved MTFS budget of £38.9m

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 3 will be approved in accordance with the Council’s Constitution

5.    Note that Council will be asked to approve Supplementary Revenue Estimate Requests for Allocation of Additional Grant Funding over £1,000,000 as per Annex 1, Section 3, Table 1