Issue - meetings
Balances at 31st March 2020
Meeting: 19/11/2019 - Executive Committee (Item 6)
6 Balances at 31 March 2020 PDF 124 KB
Consider report by the Chief Financial Officer providing an analysis of the Council’s balances as at 31 March 2019 and of the projected balances at 31 March 2020. (Copy attached).
Additional documents:
- Item No. 5 - Appendix 1 - Projected Balances as at 31-03-20, item 6 PDF 73 KB
- Item No. 5 - Appendix 2 - Projected Balances as at 31-03-20, item 6 PDF 40 KB
- Item No. 5 - Appendix 3 - Summary of Capital fund as at 31-03-20, item 6 PDF 29 KB
Minutes:
There had been circulated copies of a report by the Chief Financial Officer providing an analysis of the Council’s balances as at 31 March 2019 and details of the projected balances at 31 March 2020. The report explained that the unaudited Council’s General Fund useable reserve (non-earmarked) balance was £6.315m at 31 March 2019. The projected General Fund useable reserve was projected to remain at £6.315m at the 31 March 2020 in line with the Council’s Financial Strategy. The total of all useable balances, excluding developer contributions, at 31 March 2020 was projected to be £23.026m, compared to £27.799m at 31 March 2019. As the financial year progressed, earmarked balances to be carried forward to 2020/21 would increase. The projected balance on the Capital Fund of £8.191m would be affected by any further capital receipts, developer contributions, interest credited and any expenditure authorised to be financed from the Fund during the remainder of the financial year.
DECISION
NOTED:-
(a) the unaudited 2018/19 revenue balances at 31 March 2019;
(b) the projected revenue balances as at 31 March 2020 as contained in Appendices 1 & 2 to the report; and
(c) the projected balance in the Capital Fund as contained in Appendix 3 to the report.