The Leader and the Cabinet Member for Finance and Resources have:
(1) noted the overall performance position covering finance, savings and performance as set out in the report.
(2) noted that any remaining overspend for the 2019/20 year, following any mitigation actions, will have to be drawn from the Budget Management Reserve; which will inevitably reduce the County Council’s financial resilience in future years; and
(3) with regard to the in-year funding requirements identified for Children’s Services and Fire and Rescue Services, the Cabinet Member for Finance:
a) approved the transfer of £1.426m from the Contingency Budget to the Fire Inspection Improvements Reserve, to support the implementation of the Fire and Rescue Implementation Plan.
b) approved the transfer of £1.942m from the Contingency Budget to the Children’s First Improvement Reserve, to support the implementation of the Performance Improvement Plan for Children’s Services.
c) endorsed the inclusion of future years’ implications for both Children’s and Fire and Rescue Services within the Medium Term Financial Strategy.