Issue - meetings

Report of Head of Finance

Summary

This report summarises the Council’s Revenue and Capital performance for the first 6 months of the financial year 09/10 and projections for the full 09/10 period. These are measured by the budget monitoring function and reported via the Performance Management Framework (PMF) informing the 09/10 budget process currently underway.

This report also reviews the treasury performance in Q2 2009/10.

Recommendations

The Executive is recommended:

(1)         To note the projected revenue & capital position at September 2009.

(2)         To approve the changes in the 2009/10 capital programme as follows:

·        Slip £2,281k of projects into 2010/11 capital programme and review as part of the 2010/11 budget process

·        Slip forward £13k of budget from the 2010/11 profiles to meet expenditure to be incurred in 2010/11.

·        Release £173k of expenditure from the capital budget as a result of savings identified on a number of schemes and use £82k for a supplementary estimate for the 2 schemes detailed in 2.11.

(3)         To note the Q2 performance against 2009/10 investment strategy

Agreed.

The Head of Finance submitted a report summarising the Council’s Revenues and Capital performance for the first six months of the 2009/10 financial year and projections for the full 2009/10 period. The performance and projections are measured by the budget monitoring function and reported via the Performance Management Framework which informs the 2009/10 budget process.

Resolved

1)     That the projected revenues and capital position at September 2009 be noted.

2)     That the changes to the 2009/10 capital programme as set out below be approved:

·        Slip £2,281k of projects into 2010/11 capital programme and review as part of the 2010/11 budget process

·        Slip forward £13k of budget from the 2010/11 profiles to meet expenditure to be incurred in 2010/11.

·        Release £173k of expenditure from the capital budget as a result of savings identified on a number of schemes and use £82k for a supplementary estimate for the 2 schemes detailed in 2.11.

3)     That the Q2 performance against 2009/10 investment strategy be noted.

Reasons - This report illustrates the Council’s performance against the 2009/10 Revenue and Capital Budget and includes details of Treasury Performance as at Qtr 2 – September 2009