Gross budget - forecast outturn

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Annual budget forecast projections based on latest available data

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The quarter 2 outturn forecast shows an estimated overspend of £5,987,000 an improvement on the q1 forecast of £7,955,000. The forecast overspend of £5,987m is against a budget of £568,489,000 (gross) £213,839,000 (net).  This overspend represents 1.05% of the original gross budget.

Historically earlier forecasts shows an expected high level overspend, which reflects uncertainty and caution around the delivery of the required savings. Management actions are required to deliver the savings to arrive at a balanced budget.

Note:  the amber rating for this measure reflects an overspend against the gross budget. If rated against the controllable net budget the rating would be RED as reported in the revenue report.

Details of the quarter 2 2019/20 outturn were reported to  cabinet on 18th November 2019 in the Financial Monitoring Report