The report provided the Policy, Projects & Resources Committee with an update to the 2017/18 General Fund Revenue Budget and Housing Revenue Account that was agreed at committee on 1 March 2017, now providing the current projected outturn for both accounts.

The report reviewed the Treasury Management and Investment Strategy for 2017/18.  

Capital monitoring would be reported at the next Policy, Projects and Resources Committee for a more detailed update. 

Cllr Mrs McKinlay MOVED and Cllr Kerslake SECONDED the recommendations in the report and following a full discussion a vote was taken on a show of hands and it was

RESOLVED UNANIMOUSLY  to:

1.    Agree the projected outturn position for 2017/18 of the Council’s General Fund Revenue budget as at 31 August 2017, as detailed in Table A of the Report. 

2.    Agree the projected outturn position for 2017/18 of the Council’s Housing Revenue Account at 31 August 2017, as detailed in Table B of the report. 

3.    To Note the Treasury Management Activity for the period 1 April 2017 to 31 August 2017 as detailed in section 5 of the report, and to investigate the addition of Property Funds to the list of approved investment instruments and report back to a future committee. 

(Cllr Mrs McKinlay declared a non-pecuniary interest by virtue of being ECC Cabinet member for Finance and Resources).

Reason for recommendations

Effective financial management underpins all of the priorities for the Council and will enable the Council to operate within a sustainable budget environment.