To provide a quarterly update of the Council’s finances, the performance of services and the risks faced by the authority.

Quarter 1- based on information as at 30 June 2014

Quarter 2- based on information as at 31 October 2014

Quarter 3- based on information as at 31 December 2014

Quarter 4 – based on information as at 31 March 2015

The Head of Financial Services submitted a report (previously circulated now appended) which detailed the finance, risk and performance position as at the end of Quarter 4, 31 March 2015.

Cllr Turner, Board Member for Finance, Corporate Asset Management and Public Health presented the report, referencing the written responses to the Scrutiny Committee recommendations.  He drew attention to the Council’s General Fund outturn position for 2014-15 (a favourable variance of £1.808m) and congratulated officers in exceeding income targets.  He also commented on the improved capital performance of the Council.

The City Executive Board resolved to:

1.       NOTE the financial outturn and performance of the Council for the year 2014/15 and also the position on risks outstanding as at 31 March 2015;

2.       NOTE the transfers to General Fund earmarked reserves detailed in the report and Appendix E5;

3.       NOTE the transfers to the Housing Revenue Account (HRA) earmarked reserves as detailed in paragraph 16;

4.       AGREE the carry forward requests outlined at paragraph 8 and detailed in Appendix E4;

5.       NOTE the capital carry forwards as detailed in Appendix E2