Decision details

The report of the Head of Treasury Services was submitted, advising Members of the overall projected financial position of the General Fund Revenue Budget after nine months, for the 2009/2010 financial year.

Scrutiny Committee – Resources considered the report at its meeting on 24 March 2010 and the comments and support of Members were noted.

Members were pleased to note the improved performance in the payment of creditors - over 96% of invoices had been paid within 30 days in the first three quarters of 2009/10 compared with 85.3% over the same period in the previous year.

Executive noted:

(1)        the General Fund forecast financial position for the 2009/10 financial year;

(2)        the Housing Revenue Account (HRA) forecast financial position for the 2009/10 financial year;

(3)        the outstanding Sundry Debt position as at 31 December 2009;

(4)        the recovery position of Icelandic investments; and

(5)        the Statutory Performance Indicator BVP18 for creditors’ payments.