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Agenda item

Financial Monitoring Report - Provisional Outturn as at 31 March 2015

Joint Report of the Corporate Director of Neighbourhood Services and the Corporate Director: Resources / Treasurer to the Joint Committee.

Minutes:

The Principal Accountant, Ed Thompson referred Members to the Financial Monitoring Report, with the provisional outturn as at 31 March 2015 (for copy see file of minutes).

 

The Joint Committee noted that the income and expenditure were broadly in line with the base budget and the major variances were set out within the report.  It was noted that Phase 2 works had been brought forward, however this had been offset by the increase in income.  Members noted that a new unbudgeted annual cremation abatement payment from the CAMEO scheme had resulted in additional income of £42,779 relating to 2013/14 and also it was anticipated for a 2014/15 payment of £52,220 resulting in a total of £94,999 CAMEO abatement income in year.

 

It was explained that the provisional outturn position showed a net income of £46,589 above the base budget to be included in the major capital works reserves as previously agreed by Members.  Members noted a projected Reserve of approximately £1.46 Million at the year-end, giving a strong financial position.

 

Resolved:

 

That the April 2014 to March 2015 Revenue Spend Financial Monitoring Report and associated Provision Outturn position at 31 March 2015 be noted.

Supporting documents:

 

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