Gross budget - forecast outturn

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Annual budget forecast projections based on latest available data

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Thee quarter 3 outturn forecast shows an estimated overspend of £1,532,000 which is an improvement on the Q2 budget forecast. The forecast overspend of £1.532m is against a budget of £568,489,000 (gross) £213,839,000 (net).  This overspend represents 0.27% of the original gross budget and now falls within the green band range.

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.

Details of the quarter 3 2019/20 outturn were reported to  cabinet on 4th March 2020 in the Financial Monitoring Report