Decision details

Corporate Financial Monitoring Report - Quarter 3 for 2017-18

Decision Maker: Cabinet

Decision status: Recommendations Approved

Is Key decision?: Yes

Is subject to call in?: No

Purpose:

To consider the third 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 the use of additional Better Care Funding monies in 2017-2018, as set out in the considered, be noted.

 

2) That the Quarter 3 forecast £3.3m revenue monitoring underspend.

 

3) That the forecast reduction in general fund reserves in-year at £24.3m and year end position at £65.8m.

 

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

 

5) That the Quarter 3 forecast HRA surplus at £411k and forecast reserves position at year end at £55.4m be noted.

 

6) That approval be given to the transfer of Revenue contributions to Capital (RCCOs) totalling £125k, in accordance with Financial Procedure Rules 3.10 – 3.12. 

 

7) That the additional Homelessness Reduction Act: New Burdens Funding of £92k in 2017/18, £85k in 2018/19 and £105k in 2019/20 be noted.

 

Report author: Eamonn Croston

Publication date: 22/02/2018

Date of decision: 20/02/2018

Decided at meeting: 20/02/2018 - Cabinet

Accompanying Documents: