Agenda, decisions and draft minutes
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There were no declarations of interest intimated.
The Committee had before it a report by the Director of Resources which provided information in relation to the financial position of the Council as at Quarter 2 (30 September 2019) and the full year forecast position for the financial year 2019/20 including (1) the General Fund and Housing Revenue (HRA) revenue and capital accounts; and associated Balance Sheet; and (2) the 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 2 as detailed in Appendix 1;
(b) note the Common Good financial performance to the end of Quarter 2 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;
(e) delegate authority to the Chief Officer - Capital following consultation with the Convener of City Growth and Resources Committee and the Head of Commercial and Procurement Services, to consider and approve the business case for the purposes of procurement regulation 4.1.1 for the refurbishment of Kingsfield Children’s Home as detailed in Appendix 2 of the report; and
(f) 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 approve a one-off allocation of £35,000 to Peacock Visual Arts from the Common Good.
- COUNCILLOR DOUGLAS LUMSDEN, Convener.