Annex 10

RISK ASSESSMENT

Risk	Likelihood	Seriousness	How we will manage the risk
Budgets across the Council are overspent due to external pressures eg increased clients in adult care (KCR 1, 3 and 4) and Covid-19	Medium/ High	High	· regular monitoring with corrective action · robust financial management/prudent budget setting
Budgets across the Council are overspent due to mitigations not being delivered as outlined in monitoring reports (KCR1)	Medium/ High	High	· regular monitoring with corrective action
All Savings are not achieved, or delayed, due to reduced management and support services capacity to deliver (KCR1)	High	High	· regular budget monitoring focused on high risk areas to identify issues at an early stage · where savings are not achieved ensure alternative savings identified · regular monitoring with corrective action at DMTs · effective project management
Delays in implementing new operating models mean that savings are not delivered in the timescales forecast (KCR 1)	High	Medium	· regular monitoring with corrective action at relevant DMTs and CMT · effective project management
Underperformance of Better Care Fund schemes results in additional costs for Adult Social Care. (KCR 3)	High	High	· regular monitoring with corrective action · effective project management
Continued pressure on income and grant budgets (KCR1)	Medium/ High	Medium	· regular budget monitoring to identify trends
Potential for reserves to go below minimum levels due to budgets being exceeded  (KCR1)	Medium/ High	High	· ensure minimum levels are maintained · robust financial management/prudent budget setting
Costs of redundancy/ retirement as a result of service changes exceed budget (KCR1)	Low	Medium	· provision made for costs of retirement/redundancy in budgets
Capital costs may have to be charged to revenue, should a scheme not progress to completion. (KCR7)	Medium	High	· ensure adequate levels of reserves maintained · effective project management
Increased costs of borrowing due to increase in the capital programme (KCR7)	Medium	High	· ensure adequate levels of reserves maintained · robust financial management/prudent budget setting
Short or medium term cashflow impact due to increase in the capital programme (KCR7)	Medium	High	· ensure adequate levels of reserves maintained
Implications of Brexit (KCR 13)	Medium	Medium	· Regular monitoring