Agenda item

Finance Monitor Month 2

To include a verbal update to Cabinet on the progress made in establishing the new Slough Children's First company as per the Cabinet resolutions of 15th March 2021, to include milestones in implementing the new model, service improvements and governance arrangements.

Decision:

That the current management position on the 2021/22 accounts be noted as follows:

 

(a)  The forecast General Fund revenue position for 2021/22 as at the end of May 2021 was a £6.907m overspend;

 

(b)  The emerging issues of £33.272m that together with the £6.907m made up the deficit position for 2021/22 of £40.179m as reported in the s114 Notice;

 

(c)  The progress towards the 2021/22 savings programme;

 

(d)  The work being done by all parties across the Council to verify the savings identified in the 21/22 budget and action being taken to mitigate the budget gap in the current financial year by 30/9/21;

 

(e)  The current forecast spend on Transformation to deliver savings;

 

(f)  The Housing Revenue Account (HRA) was forecast to spend to budget for 2021/22 as at the end of May 2021.

 

The update on the progress of successfully implementing the resolutions of the Cabinet from its meeting held on 15th March 2021 in establishing Slough Children’s First was noted.

Supporting documents: