Quarterly Financial Monitors

First Quarter Financial Position Statement

This report is provided to Executive, usually around mid July each year. It provides Members with a first review of the financial position of the Council for the year.

Subsequent reports will be provided at quarterly intervals throughout the year. It examines the forecast revenue spend against the financial background in which the budget for the year was set, and highlights risks to delivering the agreed budget savings and investment proposals.

Mid Year Financial Position Statement

This report is provided to Executive, around early to mid-November. It provides Members with an overview of the Council’s financial position at the mid year stage.

It examines the current spend against both revenue and capital budgets and forecasts the expected position at the year end. Service pressures are highlighted alongside risks in delivering the budget savings and investment proposals. It also assesses the level of Council Reserves and School Balances at the half-year point.

Third Quarter Financial Position Statement

This report is provided to Executive, usually around mid February. It provides Members with an overview of the financial position of the Council at the third quarter stage.

Fourth Quarter Financial Position

This report is provided to Executive usually around mid-April. It provides an early indication of the revenue and capital financial position of the Council at the 31 March each year.

The final financial out turn position is confirmed together with a review of each Service’s performance in a report to the Executive mid June.

Outturn Report

A report is provided annually in mid-June to the Executive.

The report provides Members with a detailed statement of the final financial position of the Council at the 31 March and compares the actual spend in year against revenue and capital approved estimates.

A commentary is provided on the financial performance of each Service. The report also explains significant balance sheet items including Council and School Reserves.

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