Issue - meetings

Report of Director of Resources

Purpose of Report

This report summarises the Council’s Revenue and Capital performance for the first nine 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). 

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:

 1.1        To note the projected revenue and capital position at December 2013.

1.2         To note the quarter 3 (Q3) performance against the 2013-14 investment strategy and the financial returns from the two funds.

1.3         To note the contents and the progress against the Corporate Procurement Action Plan (detailed in Appendix 1) and the procurement savings achieved at December 2013 (detailed in Appendix 2).

Resolved

(1)          That the projected revenue and capital position at December 2013 be noted.

(2)          That the quarter 3 (Q3) 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 December 2013 be noted.

The Director of Resources submitted a report which summarised the Council’s Revenue and Capital performance for the first nine 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).  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 and capital position at December 2013 be noted.

(2)          That the quarter 3 (Q3) 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 December 2013 be noted.

Reasons

In line with good practice budget monitoring is undertaken on a monthly basis within the Council. The revenue and capital position is reported monthly to the Joint Management Team and formally to the Executive on a quarterly basis. This report includes the position at Q3.

Alternative Options

Option 1: This report illustrates the Council’s performance against the 2013-14 Financial Targets for Revenue, Capital, Treasury and Procurement Monitoring. As this is a monitoring report, no further options have been considered. However, members may wish to request that officers provide additional information.