Issue - meetings

Head of Finance and Procurement

Summary

This report summarises the Council’s Revenue and Capital performance for the first 3 months of the financial year 2013/14 and projections for the full 2013/14 period. These are measured by the budget monitoring function and reported via the Performance Management Framework (PMF) informing the 2013/14 budget process currently underway.

To receive information on treasury management performance and compliance with treasury management policy during 2013/14 as required by the Treasury Management Code of Practice.

Recommendations

The Executive is recommended:

(1)             To note the projected revenue & capital position at June 2013.

(2)             To note the quarter 1 (Q1) performance against the 2013/14 investment strategy and the financial returns from the two 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 2013 (detailed in Appendix 2).

Resolved

(1)          That the projected revenue & capital position at June 2013 be noted.

(2)          That the quarter 1 (Q1) performance against the 2013/14 investment strategy and the financial returns from the two funds be noted.

(3)          That the contents and the progress against the Corporate Procurement Action Plan and the Procurement savings achieved at June 2013 be noted.

The Head of Finance and Procurement submitted a report which summarised the Council’s Revenue and Capital performance for the first 3 months of the financial year 2013/14 and projections for the full 2013/14 period. These were measured by the budget monitoring function and reported via the Performance Management Framework (PMF) informing the 2013/14 budget process currently underway.

The report also presented information on treasury management performance and compliance with treasury management policy during 2013/14 as required by the Treasury Management Code of Practice.

Resolved

(1)          That the projected revenue & capital position at June 2013 be noted.

(2)          That the quarter 1 (Q1) performance against the 2013/14 investment strategy and the financial returns from the two funds be noted.

(3)          That the contents and the progress against the Corporate Procurement Action Plan and the Procurement savings achieved at June 2013 be noted.

Reasons

This report illustrates the Council’s performance against the 2013/14 Financial Targets for Revenue, Capital, Treasury and Procurement Monitoring.

Options

Option One: To review current performance levels and considers any actions arising.

Option Two: To approve or reject the recommendations above or request that Officers provide additional information.