Agenda item

Financial Update Three Quarter Year Review

To consider the financial position for the end of the third quarter in 2009 – 2010.

Minutes:

Consideration was given to the Council’s financial position at the end of the third quarter of 2009/10.  The report focussed on areas of high financial risk to the Council and included updates on Treasury Management, the Capital Programme and in-year collection rates for Council Tax and Business Rates. 

 

RESOLVED

For the reasons set out in the report: -

 

  1. That the pressures on the Council’s revenue budget in the third quarter of 2009/10, detailed in Section 11 and Appendix 1 of the report, and the proposed remedial actions, shown in Appendices A to C of the report, be noted.

 

  1. That the Treasury Management update detailed in Section 12 of the report be noted.

 

  1. That the Council’s in-year collection rates for Council Tax and Business Rates, detailed in Section 13 of the report, be noted.

 

  1. That progress to date on delivering the 2009-10 capital programme, detailed in Section 14 and Appendix 3 of the report, be noted.

 

  1. That the Delegated Decisions approved by Directors, shown in Appendix 2b of the report, be noted.

 

  1. That the Delegated Decisions approved by Directors in consultation with the relevant Portfolio Holder and the Portfolio Holder for Resources for Supplementary Capital Estimates and virement requests over £100,000 and up to and including £500,000, shown in Appendix 2a of the report, be noted.

 

  1. That approval be given to the revised in-year capital budget for 2009-10 as set out in Section 14 of the report, including

·        Supplementary Capital Estimates/Virements over £500,000 and up to and including £1.0m, shown in Appendix 2a of the report

·        Reductions in approved budgets, shown in Appendix 2c of the report

 

  1. That Council be requested to approve the following Supplementary Capital Estimates and Virement requests over £1.0m,  those which require funding from later years and those funded from reserves, detailed in Appendix 2a of the report

o       Housing Grants (ex MacclesfieldBC)  £1,044,904 

 

 

Supporting documents: