Issue - meetings

Report of Chief Finance Officer

Purpose of report

This report summarises the Council’s Revenue and Capital position as at the end of the first three months of the financial year 2016-17 and projections for the full year.

Recommendations

The meeting is recommended:

1.1       To note the projected revenue and capital position at September 2016.

Resolved

(1)          That the projected revenue and capital position at September 2016 be noted.

The Chief Finance Officer submitted a report which summarised the Council’s Revenue and Capital position as at the end of the first three months of the financial year 2016-17 and projections for the full year.

At the discretion of the Chairman, Councillor Woodcock, Leader of the Labour Group addressed Executive commenting on delays to the capital programme identified in the report. In response to Councillor Woodcock’s comments, the Chairman requested that officers send a written update to Councillor Woodcock regarding The Hill Youth Community Centre.

With regards to the projects that had been passed to the Solihull Partnership and were still outstanding, the Chief Finance Officer advised Members that a consultant had been brought in to oversee the works and the allocated budget would be spent by the end of 2017/18. A steering Group had been established to oversee the projects that had been passed to the Solihull Partnership and there would be regular updates to the Budget Planning Committee and Executive.

Resolved

(1)          That the projected revenue and capital position at September 2016 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 formulated in conjunction with the joint management team and reported formally to the Budget Planning Committee on a quarterly basis. The report is then considered by the Executive.

Alternative options

Option 1: This report illustrates the Council’s performance against the 2016-17 Financial Targets for Revenue and Capital. As this is a monitoring report, no further options have been considered. However, members may wish to request that officers provide additional information.