Decision details

That Members consider a net revenue forecast of £471,000 overspend.

That Members consider a capital outturn spend of £35.7m, which accords with budget provision for the year, after proposed slippage of £75,000. This describes a breakeven position not uncommon for this early in the year, although there is a potential for additional 21c schools costs in respect of additional asbestos removal and treatment costs not anticipated, which colleagues indicate could be the order of £350,000.

That Cabinet considers the use of reserves proposed in para 3.8.1,

That Members note that the low level of earmarked reserves will notably reduce the flexibility the Council has in meeting the challenges of scare resources going forward.

That Members note the extent of movements in individual budgeted draws on school balances, and acknowledge a reported net forecast deficit of £622k resulting, and support the amendments to MCC’s Fairer Funding Regulations as described in para 3.8.13 for onward engagement with schools forum and governing bodies