Annex 9

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)	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