Issue - meetings

(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.

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.