Issue - meetings

Report of Chief Finance Officer

Purpose of report

This report summarises the Council’s Revenue and Capital position and Reserves position for the first nine 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 the end of December 2016.

1.2         To note the current position on Reserves at the end of December 2016.    

Resolved

(1)          That the projected revenue and capital position at the end of December 2016 be noted.

(2)          That the current position on Reserves at the end of December 2016 be noted.     

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

Resolved

(1)          That the projected revenue and capital position at the end of December 2016 be noted.

(2)          That the current position on Reserves at the end of December 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.