Issue - meetings
Council Financial Performance, Quarter 3, 2019/20
Meeting: 06/02/2020 - City Growth and Resources Committee (Item 11)
11 Council Financial Performance, Quarter 3, 2019/20 - RES/20/032 PDF 98 KB
Additional documents:
- Appendix 1, item 11 PDF 450 KB
- Appendix 2, item 11 PDF 291 KB
- Appendix 3, item 11 PDF 187 KB
- Appendix 4, item 11 PDF 221 KB
Decision:
(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.
Minutes:
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.