Issue - meetings

Report of Chief Finance Officer

Purpose of report

This report summarises the Council’s Revenue, Capital and Reserves position as at the end of Quarter One of the financial year 2017-18 and projections for the full year.

Recommendations

The Executive is recommended:

 1.1        To note the projected revenue and capital position at June 2017.    

1.2         To note the current position on reserves at June 2017.

Resolved

(1)          That the projected revenue and capital position at June 2017 be noted

(2)          That the current position on reserves at June 2017 be noted.

The Chief Finance Officer submitted a report which summarised the Council’s Revenue, Capital and Reserves position as at the end of Quarter One of the financial year 2017-18 and projections for the full year.

Resolved

(1)          That the projected revenue and capital position at June 2017 be noted

(2)          That the current position on reserves at June 2017 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.

The revenue and capital expenditure in quarter 1 has been subject to a detailed review by Officers.

Alternative options

Option 1: This report illustrates the Council’s performance against the 2017-18 Financial Targets for Revenue and Capital and sets out the Council’s position on Reserves. As this is a monitoring report, no further options have been considered. However, members may wish to request that officers provide additional information.