Issue - meetings

Finance Report Quarter 2 2018-19

Meeting: 20/11/2018 - Cabinet (Item 46)

46 Finance Report Quarter 2 2018-19 pdf icon PDF 84 KB

To provide information on Quarter 2 (to 30 September 2018) and forecast full year financial position of the Council (report of the Portfolio Holder Finance and the Executive Director Commercialisation (S151) enclosed).

 

Additional documents:

Minutes:

Consideration was given to the report of the Portfolio Holder Finance and the Executive Director Commercialisation (S151), which provided information on Quarter 2 (to 30 September 2018) and forecast full year financial position of the Council.

 

DECISION:

 

a)    That the report and Appendix A be noted;

 

b)    That the estimated position with regard to the contributions to and use of Reserves be noted; and

 

RECOMMENDED TO COUNCIL:

 

c)    That the following increase in the HRA Capital Programme be approved in accordance with paragraph 5.6.2 of the report:

 

·         Included in the Q1 report was a potential scheme for the replacement of 12 CSU vehicles.  This project had now been evaluated and it was proposed that Council approved an increase of £260,000 in the approved capital programme, which would be funded from the Major Repairs Reserve.

 

(Other options considered:

·           To note the report and not approve the recommendations detailed in Appendix A;

·           To do nothing.

Reasons for decision:

·           To provide members with information on the Council’s overall financial             performance to date in 2018-19 and to provide an updated financial      position on reserves for 2018-19.)