Agenda item

Joint Report of the Corporate Director of Neighbourhoods and the Corporate Director of Resources / Treasurer to the Joint Committee.

The Head of Finance - Financial Services referred Members to Financial Monitoring Report, as set out in the usual format, for the period to 31 December 2013 and with projected outturn to 31 March 2014 (for copy see file of minutes).

The Joint Committee noted that the income and expenditure were broadly in line with the budget and the variances as set out in the report meant that projections were for an additional surplus of £158,409 to be included in the major capital works reserves as previously agreed by Members.  Members noted a projected Reserve of approximately £1.36 Million at the year-end, giving a strong financial position.

Councillor K Thompson asked whether the additional redistribution of surplus to the two constituent Authorities had in fact been agreed.

The Head of Finance - Financial Services noted that the budget report for 2014/15 as set out later in the agenda would set out the additional redistribution next year and added that would be for the Joint committee to debate and decide upon accordingly.  This report was in line with the approved budget for 2013/14 and an additional distribution had not been factored in for this year.

Resolved:

That the April to December 2013 Revenue Spend Financial Monitoring Report and associated Provision Outturn position at 31 March 2014 be noted.