46 Finance Report Quarter 2 2018-19 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.)