Issue - meetings

To consider the report of the Director responsible for Finance.

The Director responsible for Finance presented the report on the financial progress of Strata during the first three months of 2018/19, including a projected outturn assessment against the savings set out in the Business Plan.  He stated that the Strata budget was on track to deliver approximately £420,000 of revenue savings for the three authorities in 2018/19. The report also set out the variations in the capital budget.

The final, audited, Statement of Accounts for Strata Service Solution were included in the report, and the position had not changed from the draft accounts. The refund of £565,000 provided to the owners was deemed correct.

The Director responsible for Finance responded to questions on Strata’s change in the current financial arrangement and stated that Strata would identify costs savings at the beginning of the financial year and therefore request a lower amount from the three authorities, which would be a more efficient approach.

Strata Joint Scrutiny Committee had considered the report at its meeting on 24 September 2018 and its comments were reported.

RESOLVED that the report be noted.