Issue - meetings


Financial Performance Quarter 2

Meeting: 01/11/2010 - Executive (Item 77)

77 2010/11 Projected Revenue & Capital Outturn at 30 September 2010 pdf icon PDF 90 KB

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 10/11 and projections for the full 10/11 period. These are measured by the budget monitoring function and reported via the Performance Management Framework (PMF) informing the 10/11 budget process currently underway.

 

This report also reviews the treasury and procurement action plan performance for the first 6 months of 2010/11.

 

Recommendations

 

The Executive is recommended:

 

 

(1)   To note the projected revenue & capital position at September 2010.

 

 

(2)   To approve the transfer of £234,000 to the organisational change reserve.

 

 

(3)   To approve the Capital Slippage of £2.2m from the 2010/11 capital programme as detailed in Appendix 1 and consider this as part of the 2011/12 budget process.

 

 

(4)   To note the Q2 performance against 2010/11 investment strategy and the mid year report in Appendix 2.

 

 

(5)   To note progress against the Procurement Action plan detailed in Appendix 3 and the savings recorded in Appendix 4.

 

Additional documents:

Decision:

Recommendations Approved

Minutes:

The Head of Finance submitted a report which summarised the Council’s Revenue and Capital performance for the first 6 months of the financial year 10/11 and projections for the full 10/11 period. These are measured by the budget monitoring function and reported via the Performance Management Framework (PMF) informing the 10/11 budget process currently underway. The report also reviewed the treasury and procurement action plan performance for the first 6 months of 2010/11.

 

Resolved

 

(1)   That the projected revenue & capital position at September 2010 be noted.

 

(2)   That the transfer of £234,000 to the organisational change reserve be approved.

 

(3)   That the Capital Slippage of £2.2m from the 2010/11 capital programme as detailed in annex 4 to the minutes (as set out in the minute book)  be approved and considered as part of the 2011/12 budget process.

 

(4)   That the Q2 performance against 2010/11 investment strategy and the mid year report in annex 5 to the minutes (as set out in the minute book) be noted.

 

(5)   That progress against the Procurement Action plan detailed in annex 6 to the minutes (ass set out in the minute book) and the savings recorded in annex 7 to the minutes (as set out in the minute book) 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 reported monthly to the Corporate Management Team and formally to the Executive on a quarterly basis. This report includes the position at Q2.

 

Options

 

Option One

To review current performance levels and consider any actions arising.

Option Two

To approve or reject the recommendations above or request that Officers provide additional information.