Decision Maker: Cabinet
Decision status: Recommendations Approved
Is Key decision?: Yes
Is subject to call in?: Yes
To note the forecast revenue outturn position, including treasury management
1. That the following be noted:
· the general fund outturn forecast for 2018-19 of £0.354m under spend, before application of the Dedicated Schools Grant (DSG) deficit (Table 1 of the report)
· the continuing pressures on the Dedicated Schools Grant (DSG), £7.0m in 2018-19 (paragraphs 21 to 22 of the report)
· cost pressures in housing and modernisation, largely relating to temporary accommodation (£3.5m) and No Recourse to Public Funds (£0.6m) (paragraph 25 to 32 of the report)
· the £4m contingency is utilised in full to mitigate the impact of cost pressures within temporary accommodation and No Recourse to Public Funds (paragraph 40 of the report)
· the general fund outturn forecast indicates a net increase in reserves of £7.0m (paragraphs 51 to 55 and Table 3 of the report), excluding DSG reserve (paragraphs 21 to 22 of the report), arising principally as a result of the creation of the London Devolution Deal Reserve (paragraphs 56 – 57 of the report)
· the housing revenue account forecast set out in Table 2 of the report (paragraphs 42 to 50 of the report)
· the treasury management activity to date in 2018-19 (paragraphs 58 to 60 of the report).
2. That the general fund budget movements that exceed £250,000, as shown in Appendix A of the report be approved.
3. That it be noted that allocations from the London Devolution Deal Reserve were presented within the policy and resources budget report 2019-20, considered by cabinet on 22 January 2019.
Report author: Duncan Whitfield
Publication date: 06/02/2019
Date of decision: 05/02/2019
Decided at meeting: 05/02/2019 - Cabinet
Effective from: 14/02/2019