Agenda item

Financial Monitoring Report – Spend to 31 August 2010 and Provisional Outturn at 31 March 2011.

The Head of Finance, HR and Business Support asked Members to note the regular update report on the financial position.  Members noted that the report included the actual spend to date and also included information relating to the spending commitments for the remaining 7 months of the financial year to give an indication of the potential impact on the outturn figures. 

The Committee noted that the outturn position as set out was prudent and a recent increase in the number of cremations had not been taken into account at this time.  Members noted the variances as set out within the report and associated explanations.  It was explained that this gave an under spend of approximately £11,500 which as usual would be transferred to the earmarked reserves for capital works. 

The Head of Finance, HR and Business Support referred to section 9.6 of the report which listed the earmarked reserves as being £886,488, together with the general reserve of £424,060 giving a forecast total reserve of £1,310,548 at the year end.

Resolved:

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