Decision details

In noting the financial position for the month for the Authority a decision will be required as to the treatment of any variation identified.

The Director of Resources submitted a report which presented the Council’s projected financial health position for 2012/13, after eleven months of the financial year.

Members noted that the next financial monitoring report would be a final outturn report for 2012/2013, which would be submitted to the June 2013 Executive Board meeting.

In noting the projected underspend of £4,600,000, the Board considered how best to utilise any underspend from the 2012/2013 financial year, and whether any of this sum should be invested into highways maintenance. In conclusion, it was requested that any underspend from the Council’s 2012/2013 budget was added to the General Fund Reserves until all information from the 2012/2013 financial year was known, at which time further consideration could be given to how any underspend was utilised.

RESOLVED –

(a)  That the projected financial position of the authority after eleven months of the financial year, be noted.

(b)  That any underspend from the Council’s 2012/2013 budget be added to the General Fund Reserves until all information from the 2012/2013 financial year is known, at which time, all relevant information be submitted to the Board in order to enable the Board to determine how any such underspend should be utilised.

N/A