Decision details

Thes report set out the forecast Revenue and Capital outturn position for Buckinghamshire Council for the financial year 2023/24 as at Quarter 2. The Council was continuing to experience significant financial pressures due to continued increase in demand and complexity of need in key services, such as Adults Social Care and Children’s Social Care. The forecast revenue outturn position at Quarter 2 was an adverse variance of £8.6m, (2% of Portfolio budgets), an increase of £0.3m from the Quarter 1 reported position of £8.3m. This was primarily due to pressures in Health and Wellbeing and Education and Children’s Services from demand and market insufficiency issues, coupled with pressures in Housing & Homelessness & Regulatory Services in Temporary Accommodation budgets and Transport budgets.  Within the overall position there was an adverse variance of £15.2m (3%) in Portfolios (£14.0m last quarter) offset by a £6.6m (£5.7m last quarter) favourable variance in Corporate & Funding.

Following the Quarter 1 position, detailed Portfolio Action Plans had been implemented to address pressures, with a view to urgently bringing budgets back into line. The Quarter 2 position reflected positive variances across several portfolios linked to the delivery of the action plans, however, the financial position had deteriorated overall due to increasing pressures within Education & Children’s Services which were detailed in the report. Capital spending was forecast to be 99.5% of budget, a variance of £0.6m.

RESOLVED that Cabinet note the report and the risks and opportunities contained within it and also note the actions being taken to mitigate pressures as set out in para 3.9 of the report.