Quarter 3 Financial Performance Report 2015-16
Decision Maker: Cabinet
Decision status: Recommendations Approved
Is Key decision?: No
Is subject to call in?: Yes
This report provides information on the
forecast full year financial position of the Council as at 31
1. The report and the Appendix be noted.
2. That the revenue Virements in table 4 of Section 1 of the appendix be approved.
3. Recommend to full Council that (due to the timing issue of the NNDR accounting rules) the full year below budget spend in 2015-16 on the NNDR levy payment is contributed to the Revenues and Benefits reserve in 2015-16 to fund the NNDR collection deficit in 2016-17.
4. Recommend to Full Council that the remaining full year below budget spend for 2015-16 at 31.3.16 is contributed to the Council’s investment fund reserve, to support the budget objectives.
Reasons for the decision:
To provide timely information to Members on the overall finances of the Council and to make the best use of resources available, anticipating future year’s expenditure and providing funding to invest in the future.
Alternative options considered:
1. To note the report, approve the virements in table 4 of section 1 of the appendix, recommend to Full Council that the 15-16 below budget spend on the NNDR levy is contributed to the revenues & benefits reserve to fund the NNDR deficit in 2016-17 and recommend to Full Council that the remaining below budget spend at the end of 2015-16 is contributed to the Council’s investment fund.
2. To note the report and approve some but not all of the recommendations 2 to 4.
Report author: Alison Chubbock
Publication date: 10/02/2016
Date of decision: 09/02/2016
Decided at meeting: 09/02/2016 - Cabinet
Effective from: 18/02/2016