Issue - meetings

The report of the Executive Manager – Finance and Corporate Services is attached.

 The Executive Manager – Finance and Corporate Services presented a report which detailed both the year-end financial outturn and performance position for 2018/19. The report also provided the Group with an update on the Corporate Strategy 2016 – 2020 including the performance indicators within the performance scorecard.

The Financial Services Manager informed the Group that there were requests for the use of reserves in 2019/20 (from 2018/19) efficiencies for both expected and new revenue incomes totalling £228,000. It was explained that it was necessary for the Council to retain a stable and substantial amount of reserves as the impact of Fair Funding, business rate reviews and the decommissioning of the power station created financial uncertainly for the future.

The Service Manager – Finance and Corporate Services asked the Group to consider the performance monitoring highlights and the corporate scorecard. It was noted that there was one new exception in quarter four which was the percentage of investment strategy committed which was due to a slow-down in investments over the past six months.

Following a question, it was explained that works had been paused on Lutterell Hall following approval from Cabinet to look at marketing options for the site but that a light programme of redecorating would take place.

It was RESOLVED that the report of the Executive Manager – Finance and Corporate Services be noted.

Action Sheet – Corporate Overview Group – 20 June 2019.