Issue - meetings

To consider the report of the Director of Resources on the financial position of the authority after nine months of the financial year.

The Director of Resources submitted a report outlining the financial position of the authority after nine months of the financial year in respect of revenue expenditure and income projected to the year end. In addition, the report also highlighted the latest position regarding other key financial indicators, including Council Tax collection and the payment of creditors.

RESOLVED –

(a)  That the projected financial position of the authority after nine months of the financial year, together with the level of reserves carried forward to 2011/2012, be noted.

(b)  That approval be given to the release of £500,000 from Housing Revenue Account reserves in order to offset the pressure as a result of the Lifetime Homes PFI project not proceeding.