Issue - meetings

Report of Director of Resources

Purpose of Report

This report summarises the Council’s Revenue and Capital position, treasury management and procurement performance for the first three months of the financial year 2014-15 and projections for the full 2014-15 period.

To receive information on treasury management performance and compliance with treasury management policy during 2014-15 as required by the Treasury Management Code of Practice.

Recommendations

The meeting is recommended:

 1.1        To note the projected revenue and capital position at June 2014.    

1.2         To note the quarter 1 (Q1) performance against the 2014-15 investment strategy and the financial returns from the funds.

1.3         To note the contents and the progress against the Corporate Procurement Action Plan (detailed in Appendix 1).

Resolved

(1)          That the projected revenue and capital position at June 2014 be noted.

(2)          That the quarter 1 (Q1) performance against the 2014-15 investment strategy and the financial returns from the funds be noted.

(3)          That the contents and the progress against the Corporate Procurement Action Plan be noted.

The Director of Resources submitted a report which summarised the Council’s Revenue and Capital position, treasury management and procurement performance for the first three months of the financial year 2014-15 and projections for the full 2014-15 period.

The report also presented information on treasury management performance and compliance with treasury management policy during 2014-15 as required by the Treasury Management Code of Practice

Resolved

(1)          That the projected revenue and capital position at June 2014 be noted.

(2)          That the quarter 1 (Q1) performance against the 2014-15 investment strategy and the financial returns from the funds be noted.

(3)          That the contents and the progress against the Corporate Procurement Action Plan be noted.

Reasons

The CIPFA Code of Practice on Treasury Management which this Council has adopted requires a regular budget monitoring report. This report illustrates the Council’s performance against the 2014-15 Financial Targets for Revenue, Capital and Procurement Monitoring.

Alternative Options

Option 1: As this is a monitoring report, no further options have been considered. However, members may wish to request that officers provide additional information.