Issue - meetings
2016/17 Common Good Budget - Monitoring Report
Meeting: 01/12/2016 - Finance, Policy and Resources Committee (Item 15)
15 2016/17 Common Good Fund - Monitoring Report - CG/16/138 PDF 118 KB
Decision:
(i) to note the report and the information on management action and risks that is contained therein;
(ii) to note the forecast surplus of £137k, a favourable variance of £66k;
(iii) to note the estimated cash balances as at 31 March 2017 of £17m based on current estimates, which is within the recommended levels indicated by the Head of Finance;
(iv) to note the position regarding earmarked reserves; and
(v) agree a grant of £5000 to Balnagask Community Centre to allow them to provide tickets and transport for the Ice Show and Pantomime for children and young people of a variety of ages.
Minutes:
The Committee had before it a report by the Interim Director of Corporate Governance which outlined the current year’s revenue budget performance for the Common Good Fund as at 31 October 2016 and provided a forecast position of the cash balances as at 31 March 2017.
The report recommended:-
that the Committee –
(a) note the report and the information on management action and risks that was contained therein;
(b) note the forecast surplus of £137k, a favourable variance of £66k;
(c) note the estimated cash balances as at 31 March 2017 of £17 million based on current estimates, which was within the recommended levels indicated by the Head of Finance; and
(d) note the position regarding earmarked reserves.
The Committee resolved:-
(i) to approve the recommendations contained within the report; and
(ii) to agree a grant of £5000 to Balnagask Community Centre to allow them to provide tickets and transport for the Ice Show and Pantomime for children and young people of a variety of ages.