In the absence of the Lead Member for Finance and Ascot the Chairman introduced the latest financial update report.

Cabinet were informed that the report set out the Councils financial position at period three in the financial year 2019-20 and forecasts an overspend for the year of £512,000.  The council’s base budget was £92,773,000 and reserves stood at £9,770,000 (10.53% of budget) which remained in excess of the £5,810,000 (6.26% of budget) recommended minimum level set at council.

The Chairman informed that there had been an increase to the projected overspend since last reported of £153,000 due to the 12 week secure placement of a vulnerable resident and the decision to continue to support the tourism function until funding came from stakeholders.

Cllr Jones reported that the update mentioned that there were pressures in children’s and adult services that were being managed within service.  She asked what were the pressures and could they continued to be managed. 

With regards to Children’s Services the director reported that section 4.4 of the report covered the issues; due to a family bereavement it had been necessary to appoint an interim service manager, there was an expected Ofsted inspection, increased caseloads and court costs.  With regards to Adult Services the interim director informed that this was due to pressures relating to placements, particularly learning disability and continuing healthcare, and domiciliary care.

Resolved unanimously:  that Cabinet notes the report and notes the council’s projected outturn position for 2019-20.