The budget report was discussed by the cabinet at a meeting on Tuesday.
Despite these figures cabinet member for finance and procurement, Councillor Simon Jacobs, said that the council were “pretty much on target” to deliver the planned savings by the end of the financial year.
Cllr Jacobs said: “We have opportunities in the next two months to ensure that the current overspend will be removed.”
The overspend was blamed on the rising pressures of adult social care, which accounts for around two-thirds of the council’s budget.
The budget report did highlight that no “significant budget amendments” would be made. Currently, the council is spending around £1m every day.
Their report also a predicted a £7.3m on the dedicated schools grant, which could potentially increase in the new school year.
The full council is also due to approve a council tax rise totalling 3.99 per cent.