Issue - meetings

(i)        note the positive cash position that has been achieved for the General Fund and HRA to the end of Quarter 1 as detailed in Appendix 1;

(ii)       note the Common Good financial performance to the end of Quarter 1 as detailed in Appendix 3;

(iii)      note that the revenue budgets for the General Fund, HRA and Common Good are on target to achieve a balanced position for 2019/20 as detailed in Appendix 2;

(iv)      note that the capital expenditure for the General Fund will result in a lower level of borrowing at the end of financial year 2019/20 than had been budgeted; and for the Housing Capital programme the initial estimate is that the budgeted funding requirements will be achieved, as detailed in Appendix 2;

(v)       approve the incentive scheme for new foster carers as detailed in sections 3.11 and 3.12 of this report;

(vi)      approve the release of the Earmarked Reserves to support the uncommitted General Fund balance and Common Good cash balance respectively, as detailed in section 3.13 of this report;

(vii)     approve the virements for Housing Capital budgets as detailed in Appendix 2;

(viii)    instructs the Chief Officer – Finance to submit a report to the 26 November 2019 meeting of the City Growth and Resources Committee containing indicative budget options for the financial year 2020/21;

(ix)      that the Chief Officer – Finance circulate to members of the Committee (by way of email), details in relation to the number of adult social care out of authority area placements;

(x)       that the Chief Officer – Finance circulate to members of the Committee (by way of email), further details in relation to the level of other funds raised to reduce the allocation of £1million for the redevelopment of Aberdeen Science Centre;

(xi)      that the Director of Resources circulate to members of the Committee (by way of email), confirmation that the proposed external cleaning works to the Music Hall would be undertaken to a satisfactory standard; and

(xii)     to thank all officers concerned in relation to the preparation of the report.

With reference to article 6 of the minute of meeting of 25 April 2019, the Committee had before it a report by the Director of Resources which provided information on the financial position of the Council as at Quarter 1 (30 June 2019) and the full year forecast position for the financial year 2019/20, including (1) General Fund and Housing Revenue Account (HRA) revenue and capital accounts and associated Balance Sheet; and (2) Common Good Revenue Account and Balance Sheet.

The report recommended:-

that the Committee –

(a)       note the positive cash position that has been achieved for the General Fund and HRA to the end of Quarter 1 as detailed in Appendix 1;

(b)       note the Common Good financial performance to the end of Quarter 1 as detailed in Appendix 3;

(c)       note that the revenue budgets for the General Fund, HRA and Common Good are on target to achieve a balanced position for 2019/20 as detailed in Appendix 2;

(d)       note that the capital expenditure for the General Fund will result in a lower level of borrowing at the end of financial year 2019/20 than had been budgeted; and for the Housing Capital programme the initial estimate is that the budgeted funding requirements will be achieved, as detailed in Appendix 2;

(e)       approve the incentive scheme for new foster carers as detailed in sections 3.11 and 3.12 of this report;

(f)        approve the release of the Earmarked Reserves to support the uncommitted General Fund balance and Common Good cash balance respectively, as detailed in section 3.13 of this report; and

(g)       approve the virements for Housing Capital budgets as detailed in Appendix 2.

The Committee resolved:-

(i)        to approve the recommendations;

(ii)       to instruct the Chief Officer – Finance to submit a report to the 26 November 2019 meeting of the City Growth and Resources Committee containing indicative budget options for the financial year 2020/21;

(iii)      that the Chief Officer – Finance circulate to members of the Committee (by way of email), details in relation to the number of adult social care out of authority area placements;

(iv)      that the Chief Officer – Finance circulate to members of the Committee (by way of email), further details in relation to the level of other funds raised to reduce the allocation of £1million for the redevelopment of Aberdeen Science Centre;

(v)       that the Director of Resources circulate to members of the Committee (by way of email), confirmation that the proposed external cleaning works to the Music Hall would be undertaken to a satisfactory standard; and

(vi)      to thank all officers concerned in relation to the preparation of the report.

-          COUNCILLOR ROSS GRANT, Vice Convener