Issue - meetings
Strata Budget Monitoring Quarter 4
Meeting: 21/06/2016 - Strata Joint Executive Committee (Item 19)
19 Strata Budget Monitoring Quarter 4 : 2015/16 
PDF 38 KB
To consider the report of the Director (Finance Lead)
Additional documents:
Decision:
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Agreed
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that the report be noted.
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Reason for Decision:
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As set out in the report |
Minutes:
The report of the Director (Finance Lead) was submitted advising Members of the final financial position of Strata for the 2015/16 financial year, including the refund reflecting the savings made in the year.
Members were advised that Strata was looking to refund a total of £230,000 back to the three Councils, having been given a total of £5.752 million to run IT services in 2015/16 along with funding for various capital projects. The Company also maintained an account for additional purchases throughout the year, which was invoiced to each Council based on actual purchases made. It was noted that turnover now was £6.5 million.
The Director with responsibility for Finance reported that there had been a significant improvement in reducing the pension fund liabilities to Strata which was a benefit to the business.
Strata Joint Scrutiny Committee considered the report at its meeting on 7 June 2016 and its comments were reported.
RESOLVED that the report be noted.
Meeting: 07/06/2016 - Strata Joint Scrutiny Committee (Item 25)
25 Strata Budget Monitoring Quarter 4 : 2015/16 PDF 38 KB
To consider the report of the Director (Finance Lead)
Additional documents:
Minutes:
The report of the Director with responsibility for Finance was submitted advising Members on the financial progress of Strata during 2015/16, including the refund reflecting the savings made in the year.
Strata was looking to refund a total of £230,000 back to the three Councils, having been given a total of £5.752 million to run IT services in 2015/16 along with funding for various capital projects. The Company also maintained an account for additional purchases throughout the year, which is invoiced to each Council based on actual purchases made. It was noted that turnover now was £6.5 million.
The Director with responsibility for Finance reported that there had been a significant improvement in reducing the pension fund liabilities to Strata which was a benefit to the business. The Committee wished to congratulate Strata and its staff on the work undertaken so far and wished the progress made to be maintained.
Strata Joint Scrutiny Committee noted the report.