Decision details

Corporate Financial Monitoring Report - Quarter 2 for 2017-18

Decision Maker: Cabinet

Decision status: Recommendations Approved

Is Key decision?: Yes

Is subject to call in?: No

Purpose:

To consider the second quarter Revenue & Capital Monitoring forecast and to consider any specific recommendations on the application of resources in-year, including movements to and from reserves, as required by financial procedure rules

Decision:

1)    That approval be given to the proposed use of additional Better Care Funding monies in 2017-2018, as detailed within the considered report.

 

2)    That, pursuant to (1) above, the Quarter 2 forecast £1.0m revenue monitoring underspend be noted.

 

3)    That the forecast reduction in general fund reserves in-year at £21.5m and year end position at £68.6m.

 

4)    That the favourable in-year financial performance on the Collection Fund be noted.

 

5)    That the Quarter 2 forecast HRA surplus at £206k and forecast reserves position at year end at £49.7m be noted.

 

6)    That proposals to incorporate key intelligence from Quarter 2 monitoring, as appropriate, into the forthcoming updated 2018-2022 budget plan proposals, as appropriate, be noted.

 

Report author: Eamonn Croston

Publication date: 23/11/2017

Date of decision: 21/11/2017

Decided at meeting: 21/11/2017 - Cabinet

Accompanying Documents: