Issue - meetings

Report of Head of Finance

Summary

This report summarises the Council’s Revenue and Capital performance for the first 3 months of the financial year 2011/12 and projections for the full 2011/12 period. These are measured by the budget monitoring function and reported via the Performance Management Framework (PMF) informing the 2011/12 budget process currently underway.

To receive information on treasury management performance and compliance with treasury management policy during 2011/12 as required by the Treasury Management Code of Practice.

Recommendations

The Executive is recommended:

(1)         To note the projected revenue & capital position at June 2011.

(2)         To note the Q1 performance against the 2011/12 investment strategy and the financial returns from each of the 3 funds.

(3)         To note the contents and the progress against the Corporate Procurement Action Plan (detailed in Appendix 1) and the Procurement savings achieved at June 2011 (detailed in Appendix 2).

Recommendations approved

The Head of Finance submitted a report which summarised the Council’s Revenue and Capital performance for the first 3 months of the financial year 2011/12 and projections for the full 2011/12 period. These are measured by the budget monitoring function and reported via the Performance Management Framework (PMF) informing the 2011/12 budget process currently underway.

The report also presented information on treasury management performance and compliance with treasury management policy during 2011/12 as required by the Treasury Management Code of Practice.

Resolved

(1)               That the projected revenue & capital position at June 2011 be noted.

(2)               That the Q1 performance against the 2011/12 investment strategy and the financial returns from each of the 3 funds be noted.

(3)               That the contents and the progress against the Corporate Procurement Action Plan and the Procurement savings achieved at June 2011 be noted.

Reasons

This report illustrates the Council’s performance against the 2011/12 Financial Targets for Revenue, Capital, Treasury and Procurement Monitoring.

Options