Issue - meetings

The report considers the projected year end position which is that the budgeted funding gap of £27.1 million will be realised across all DSG blocks.

The cumulative deficit at 31 March 2024 is forecast to be £62.9 million including the schools block variance, which is not yet referenced in the deficit management plan.

The Assistant Chief Finance Officer presented a report, a copy of which had been circulated to each Member and a copy of which appears as Appendix A to these minutes in the Minute Book. The Forum was advised that this was an information report which detailed the projected year end position, which was that the budgeted funding gap of £27.1 million will be realised across all DSG blocks. The cumulative deficit at 31 March 2024 is forecast to be £62.9 million including the schools block variance, which had not yet been referenced in the deficit management plan. The Forum was reminded that there was not a balanced budget set which was mostly due to the High Needs Block.

The outturn forecast was broadly where it was expected to be. A funding gap of £27.1 million had been budgeted for. The forecast for the High Needs block was sill based on assumptions but was looking balanced. The Forum was informed that there was forecasted to be £69.2 million deficit at the end of the year. It was noted that this had been flattened slightly by the delivering better value program but not sufficiently to balance the budget. There was a declining population of under 4’s at present and there would be changes coming up to Early Years funding.

Action to note report: Noted