Issue - meetings

Report of Head of Finance and Procurement

Purpose of report

This report summarises the Council’s Revenue and Capital position, treasury management and procurement performance for the first six 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 to:

 1.1        Note the projected revenue and capital position at September 2014.           

1.2         Note the quarter 2 (Q2) performance against the 2014-15 investment strategy and the financial returns from the funds.

Resolved

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

(2)          That the quarter 2 (Q2) performance against the 2014-15 investment strategy and the financial returns from the funds be noted.

The Head of Finance and Procurement submitted a report which summarised the Council’s Revenue and Capital position, treasury management and procurement performance for the first six 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 September 2014 be noted.

(2)          That the quarter 2 (Q2) performance against the 2014-15 investment strategy and the financial returns from the funds be noted.

Reasons

This report illustrates the Council’s performance against the 2014-15 Financial Targets for Revenue, Capital and Procurement Monitoring. 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 Budget Planning Committee and Executive on a quarterly basis.

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.