Issue - meetings

(i)       to note the positive cash position that has been achieved for the General Fund and HRA to the end of Quarter 3 as detailed in Appendix 1 of the report;

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

(iii)      to 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 of the report;

(iv)     to note that the capital expenditure for the General Fund will be lower than budgeted, which will result in project budgets being carried forward into 2020/21; and for the Housing Capital programme the estimate remains that the budgeted funding requirements will be achieved, as detailed in Appendix 2 of the report;

(v)      to approve the budget virements for Housing Capital as detailed in Appendix 2 of the report; and

(vi)     to thank all officers who were involved in the preparation of the report.

The Committee had before it a report by the Director of Resources, which provided the financial position of the Council as at Quarter 3 (31 December 2019) and the full year forecast position for the financial year 2019/20, including:-

·         General Fund and Housing Revenue Account (HRA and capital accounts; and associated Balance Sheet; and

·         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 3 as detailed in Appendix 1 of the report;

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

(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 of the report;

(d)       note that the capital expenditure for the General Fund will be lower than budgeted, which will result in project budgets being carried forward into 2020/21; and for the Housing Capital programme the estimate remains that the budgeted funding requirements will be achieved, as detailed in Appendix 2 of the report; and

(e)       approve the budget virements for Housing Capital as detailed in Appendix 2 of the report.

The Committee resolved:-

(i)        to approve the recommendations; and

(ii)       to thank all officers who were involved in the preparation of the report.