Agenda item

Financial Monitoring Report – Provisional Outturn 2010/11.

The Head of Finance, HR and Business Support asked Members to note the report setting out the provision outturn for at 31 March 2011.  The Joint Committee noted that  the outturn position was provisional as the year end for the accounts had just past.  Members noted that the Head of Finance, HR and Business Support had spoken to the Principal Accountant, Jo McMahon that morning and the figures, as adjusted for debtors/creditors, had not changed substantially from those set out in the report.

The Committee noted that the projected surplus , as set out within the base budget for 2010/11, had been improved upon by approximately £140,000 and that as agreed by the Joint Committee previously this would be transferred to the earmarked reserves for capital works. 

The Head of Finance, HR and Business Support noted that as agreed at the December meeting of the Joint Committee, the sum of £600,000 had been transferred from earmarked reserves into the cremator replacement fund, that  the general reserve position was approximately £424,060 and that the provisional outturn at 31 March 2001 for the total reserves was £1,439,045.

Councillor J Chaplow noted unbudgeted post mortem costs of £500 and asked what these referred to.  The Head of Finance, HR and Business Support explained that as there is no specific budget allocated for such costs, this was noted specifically for Members’ information.   A full explanation of these unbudgeted expenditures would be provided in future reports.

Resolved:

That the Joint Committee note the April 2010 to March 2011 Revenue Spend Financial Monitoring Report and associated provisional outturn position 2010/2011.