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