Issue - meetings

This report highlights the overall financial position of the Council as at August 2015. The report will cover the following topics:

·         Revenue Budget monitoring summary

·         2015/16 Savings

·         Council Tax & NNDR Collection Rates

·         Other debt analysis and collection

·         Capital Programme monitoring summary

·         Financial Control

Cabinet noted the financial position of the Council as at the end of August 2015, and the actions being taken to contain the forecast overspend.

Councillor Pavey, Deputy Leader of the Council, introduced the report highlighting the overall financial position of the Council as at August 2015.

Councillor Pavey stated that as at August 2015, the overall forecast was that the general fund revenue budget would be overspent by £2.5m by the year end, compared to £2.6m reported to Cabinet on 27 July 2015.

Councillor McLennan reported that the department was reporting a projected overspend of £1.2m, compared to the £0.65m overspend that had been forecast in the previous report to Cabinet in July. She stated that the significant contributing factors leading to the adverse position are the temporary accommodation budget. Councillor Mashari added that an overspend existed relating to the Brent START budget.

Councillor Moher reported that the Children and Young People’s department has forecast that it would overspend its budget by £1.3m. All of the significant financial issues were within Children’s Social Care.

RESOLVED:

that the financial position of the Council as at the end of August 2015, and the actions being taken to contain the forecast overspend be noted.